Boeing HQ
Key Boeing news centers about a new offer to the IAM that increases pay by 38%, but does not restore a pension. Union leadership has endorsed this offer, which both sides hope will end the strike. The proposed deal includes a $12,000 one time ratification bonus, restoration of an annual incentive program, and increased Boeing matches to employees 401K programs. It is now up to the rank and file to ratify the agreement, which will up for a vote on Monday.
Boeing has also dismantled its DEI (Diversity, Equity, and Inclusion) department, integrating those activities into their talent and employee experience team. The dismantling of Boeing’s DEI department throws into question the future of its existing programs to promote more diversity among its workforce. This may be a result of Boeing’s 10% staffing cuts in white collar areas.
In similar news, Boeing is not participating in the Zhuhai Air Show in China as a part of its cost-cutting elements. China has become an important market for Boeing, and the company
Emirates continues to complain that delivery delays for aircraft are disrupting its growth plans. With Emirates accounting for nearly half of the backlog for the 777X, the carrier has significant clout as its major customer. Nonetheless, the carrier noted that compensation from Boeing for delays is nowhere near a replacement for its lost profits. Attitudes are changing, from adding to orders to loudly complaining about delays.
In other news, an interesting story on the ‘revolving door’ between industry and government, an item about vital lessons from the strike, and one covering four ways Airbus is faring better than Boeing make for interesting reads.
Links to today’s key news follow:
- Boeing machinists to vote on new contract offer meant to end strike – Seattle Times
- Boeing dismantles diversity team as pressure builds on new CEO – BNN Bloomberg
- Boeing skips China’s biggest airshow amid spending curbs – BNN Bloomberg
- Emirates says jet delays are disrupting its plans for growth – BNN Bloomberg
- Congress protests ‘revolving door’ to Boeing while rushing through it – Seattle Times
- Vital lessons from the Boeing strike – Forbes
- 4 ways Europe’s Airbus is fairing better than Boeing – Business Insider
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