Boeing reaches tentative four-year agreement with engineering union

Boeing ($BA) and the SPEEA union reached a tentative four-year contract covering roughly 17,000 engineering and technical employees. The proposal includes an immediate 10% wage increase if ratified, followed by additional annual increases and merit adjustments.

The agreement follows rejection of an earlier offer and still requires employee approval. It is therefore a step toward resolving the labor dispute, not a ratified settlement. Until the vote is complete, the announcement should not be treated as eliminating all risk of disruption.

Sources:

• Reuters — tentative SPEEA contract