Boeing presents best and final offer in SPEEA contract talks

It’s in: Boeing’s Best and Final.

Boeing concedes on medical, it says, but still wants pension relief for new employees. Says it will roll forward the current contract. The press release sounds like it pretty much accepts the SPEEA proposal, except for future employees’ pension costs.

The devil is in the details; we’ll see what SPEEA thinks after its review, but from the press release this looks encouraging.

Here is Boeing’s message to employees:

Today, Boeing gave SPEEA its best-and-final contract offer, agreeing to the union’s approach to extend the terms of the previous contract for current employees. With the exception of proposals explicitly agreed upon by both parties, the provisions of the current agreement will roll forward as they apply to current employees. This four year contract would allow all of us to focus our time and energy on the immediate challenges facing the company.

Under this offer, both Profs and Techs would see salary pools of 5 percent annually for the duration of the contract. The average Prof would see $84,071 in additional pay and performance-based incentive payments (EIP) over the life of the agreement. The average Tech would see $64,515 in additional pay and incentive payments.

Health care plans would remain in place with no increase in employee contributions.

For new hires only, we offer an enhanced retirement savings plan that would replace the traditional pension. Pensions for current SPEEA-represented employees are unchanged except for an increase in the pension basic benefit. Moving new hires to an enhanced retirement savings plan will provide future employees with a market-leading retirement plan — while allowing Boeing to better manage retirement plan expenses, reduce financial risk and invest in areas critical to the success of our business.

Over the past nine months, our team has negotiated in good faith to provide a market-leading offer to our employees.

We encourage you to visit the negotiations website where you’ll find updated fact sheets with all the details of this offer, as well as an updated Pay & Benefits Estimator that shows what it means to you.

3 Comments on “Boeing presents best and final offer in SPEEA contract talks

  1. Well – it looks like the power point rangers in Chicago have more to learn.

    They meet the definition of insanity.

    While SPEEA was willing to bend some on many issues- the pension issue IMHO is a show stopper. Even the newbies realize the shaft job.

    MY guess – at least 60 to 70 percent will vote down BA BFO and give strike authorization.

    Which will send the N team back to the table one more time-

    result – high probability of a strike about mid feb – due to time to meet and vote etc.

    Delaney PR about getting other AR to work grounding and 787 and delivery issues is
    a steaming pile of . . . .

    His bio says it all – a McDummy refugee- after helping to run Mickey D out of business, he now is using his ‘ talent” to put BA on the same track !!

    . . .Delaney began his career as an aerodynamics engineer at Grumman Aerospace. He transitioned to commercial aircraft flight testing in 1988 when he began working for McDonnell Douglas. In 1994, Delaney was promoted to principal[JO1] specialist for all widebody flight test activity, and in 1997 became senior manager of Flight Test Engineering. That same year, Delaney was promoted to director of 717 Airplane Test and Validation. After the successful certification of this new model, he was given the additional responsibility for Flight and Lab Test/Flight Operations and served as 717 deputy chief project engineer. ..

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