Boeing Narrowly Averts Strike by 32,000 Aircraft Workers

The deal is said to be the first of its kind in 16 years.

Boeing averts strike by aircraft machinists

News of the deal, which was released on Sunday, has to do with the International Association of Machinists and Aerospace Workers (IAM), who represent about 32,000 Boeing workers, most of them in WA State.

The strike, had it happened, would have been "crippling" according to reports. The deal includes a 25 percent wage increase and a promise to build the company's next commercial airliner project at Boeing's Seattle-area plants.

According to DW.com:

 "It also includes a provision for improving retirement benefits and gives the union more power in reviewing safety and quality procedures."

The tentative deal still has to be ratified by the workers by vote on Thursday of this week.

They also reported:

"Workers had vowed to launch a crippling strike on September 13 if their demands were not met. A work stoppage is still possible if more than two thirds of employees are dissatisfied with the deal."

Due to a recent series of mechanical and business issues, Boeing posted a July second-quarter loss of about $1.44 billion dollars.