Boeing Co (NYSE:BA, ETR:BCO) workers have voted to accept the company’s latest pay proposal, concluding a seven-week strike that began on September 13 and disrupted production.
The new contract grants a 38% pay increase over four years, along with a one-time bonus of $12,000 and improvements to retirement benefits.
The International Association of Machinists and Aerospace Workers reported that 59% of members supported the offer, allowing workers to return between November 6-12.
Union leader Jon Holden described the agreement as a stand for fair pay, following two earlier rejections by workers who originally sought a 40% raise.
Boeing CEO Kelly Ortberg noted that the focus now is on restoring Boeing's reputation for excellence.