Boeing to extend labor contract with engineer's union by four years
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THURSDAY, AUGUST 11, 2022
Boeing to extend labor contract with engineer's union by four years

Global Economy

Reuters
14 February, 2020, 03:20 pm
Last modified: 14 February, 2020, 03:20 pm

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Boeing to extend labor contract with engineer's union by four years

The contract with Society of Professional Engineering Employees in Aerospace (SPEEA) will cover about 18,000 engineering and technical employees

Reuters
14 February, 2020, 03:20 pm
Last modified: 14 February, 2020, 03:20 pm
FILE PHOTO: A Boeing logo is seen at the company's facility in Everett , Washington, US January 21, 2020. REUTERS/Lindsey Wasson/File Photo
FILE PHOTO: A Boeing logo is seen at the company's facility in Everett , Washington, US January 21, 2020. REUTERS/Lindsey Wasson/File Photo

US planemaker Boeing Co said it has agreed to a tentative deal with its engineers' union to extend its labor contract by another four years.

Under the agreement, an incentive plan for employees will be raised to 5 percent of eligible earnings from 3.85 percent, the company said late on Thursday.

It will also establish fixed salary adjustment funds for each year from 2020 through 2026. Boeing's current contract is set to expire in 2022.

The contract with Society of Professional Engineering Employees in Aerospace (SPEEA) will cover about 18,000 engineering and technical employees, the company said.

The deal was endorsed by SPEEA's board and is expected to be put for voting by the union members between Feb. 24 and March 9, the US planemaker said.

World+Biz

The Boeing Company

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