Jan. 4 (Bloomberg) — Boeing Co. gained a decade of labor peace after its largest union voted to accept contract concessions in exchange for a promise to base production of the new 777X jet and three other models at its Seattle hub.
Machinists' union members late yesterday voted 51 percent in favor of ratifying the new agreement, which is effective through 2024. The deal would freeze pensions starting in 2016, a term that Ray Conner, who heads Boeing's commercial airplane unit, had said was non-negotiable.
"Boeing got what it wanted," said Richard Aboulafia, an aerospace analyst with Teal Group, a Fairfax, Virginia-based consulting firm. "This probably takes care of a host of problems for years to come."
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