About 30-thousand Boeing machinists in the Seattle area face a tough decision Wednesday. They have to choose between accepting a contract extension that includes a pension freeze or risk losing jobs on the next jet program.
Boeing told its machinists union they need to accept this eight-year contract extension in order to have the next wide-body triple-seven jet built in Washington state. But some machinists like Robley Evans say they plan to vote no. He’s upset the company will freeze the pension in 2016 and move everyone to a 401(k)-type retirement plan.
Evans: You can’t predict those 401(k)s and what they’re going to do, I’ve seen a lot of people in 2008 lose their 401(k)s. They dwindled to nothing.
Boeing officials say the offer is market-leading, and they’ll boost 401(k) contributions to ease the transition. Company officials say they’re facing fierce competition from Airbus and need to take steps to keep their planes affordable. Members of the International Association of Machinists and Aerospace Workers Local 751 will be voting on the contract extension until 6 pm this evening. The union says it will report the results after 9 pm tonight.
Copyright 2013 Northwest News