Boeing’s ‘final and best’ deal for workers: 30% pay hike, $6,000 bonus

The offer, which Boeing called its “best and final offer,” will also restore a performance-based incentive plan and increase Boeing’s 401(k) match from 75 percent to 100 percent of the first 8 % that an employee contributes.

The new proposal comes less than two weeks after tens of thousands of Boeing workers in Washington and Oregon went on strike after voting to reject a new proposal offered by Boeing.

“Their ‘no’ vote was a clear mandate. Boeing must stop undervaluing its workforce. Our members deserve a contract that reflects their hard work and sacrifices,” the union wrote in a statement after the vote.

The strike, which has halted production of key planes such as the 737 MAX, has left Boeing scrambling to conserve cash. Last week, he said he had laid off a “large number” of white-collar workers and his management would take a pay cut for the duration of the strike. Boeing also banned employees from flying business class and froze hiring in the wake of the recall to cut costs.

Boeing has faced a series of reputational losses this year, including an incident in which an airplane door exploded, a plane lost its wheel and a flight had to turn back after an engine failure.

In Monday’s letter to union leadership, Boeing called for a vote on the new proposal “as soon as possible” so employees can return to work.

It is unclear when the proposal will be put to a vote and whether a 30 percent pay rise will appease the employees, when some of them insisted on a 40 percent pay rise during the first negotiation.

The International Association of Machinists and Aeronautical Workers did not immediately respond to a request for comment from Business Insider sent outside standard business hours.