Sunday, August 24, 2008

Union Rejects Boeing's Wage Offer

NEW YORK (Reuters) - Boeing Co. offered its (BA.N: Quote, Profile, Research, Stock Buzz) largest workers' union wage increases and other incentives for a new labor contract, but the union called the proposals "insulting" and stepped up its threat to go on strike in early September.

Boeing proposed a pay raise of 2.5 percent the first year and 2 percent in each of the following two years, but the International Association of Machinists and Aerospace Workers (IAM) -- which represents 27,000 Boeing workers, mostly in the Seattle area -- demanded more.

The machinists' union said it submitted a counter-proposal including a substantial increase on the pension, improvements in health care, and retiree medical and pensions for all employees.

Damn unions are never satisfied...

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