The Biz Buzz

Get the most up-to-date news, insights and analysis of Tacoma, Pierce County and South Puget Sound business.

NOTICE: The Biz Buzz has moved.

With the launch of our new website, we've moved The Biz Buzz.
Visit the new section.

Boeing, Machinists agree to incentive plan

Post by John Gillie / The News Tribune on June 13, 2012 at 7:20 am |
June 13, 2012 7:21 am

Boeing and its 32,000 union machinists have agreed to a new plan that will grant those union members yearly bonuses of up to four percent of their gross wages if they meet performance standards.

The incentive plan was the last part of a landmark agreement between Boeing and its largest union reached last fall to extend their contract through 2016.

With agreement on the bonus plan, machinists will join non-union Boeing workers and unionized engineering and technical workers represented by another union in participating in the incentive plan.

Boeing workers could receive their first payments under the plan next February. The plan’s provisions are effective at the end of June.

Machinist Union members received a $5,000 signing bonus and a two percent annual wage increase on their ratification of the new contract.

The new incentive plan covers union workers in the Puget Sound area, Portland and Wichita, Kans.

*
The News Tribune now uses Facebook commenting on selected blogs. See editor's column for more details. Commenters are expected to abide by terms of service for Facebook as well as commenting rules for thenewstribune.com. Report violators to webmaster@thenewstribune.com.