(Bloomberg) -- Boeing Co. said it hammered out a deal with union leaders to potentially avoid a strike that would cripple its airplane manufacturing.
The union, IAM 751, said the offer includes substantial raises and job security for those building commercial airplanes in Puget Sound and Portland in the Pacific Northwest.
The breakthrough came following a marathon bargaining session with a strike vote looming on Sept. 12 for a contract that expires at midnight. It marks a significant victory for new Boeing Chief Executive Officer Kelly Ortberg, who's signaled he wants to reset long-contentious labor relations at the planemaker.
But it's too soon to know if Boeing's factory workers will support the measure — or buck their leadership. Anti-management sentiment is running high, particularly among workers who were pressured into forgoing pensions a decade ago.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
