Boeing Reaches Tentative Agreement to End Machinists' Strike

The deal includes a 35% wage increase over four years but awaits union members' approval on October 23.

The strike, involving 33,000 machinists, began on September 13, halting production at key Boeing facilities in Seattle.
Boeing's proposed agreement includes a $7,000 ratification bonus and maintains annual bonuses previously at risk of being cut.
The deal does not reinstate the pension plan eliminated in 2008 but increases Boeing's contribution to employees' retirement funds.
Federal mediation played a significant role, with the U.S. Labor Secretary actively involved in negotiations.
The strike has cost Boeing and its suppliers approximately $7.6 billion in direct financial losses.