Boeing makes a 'best and final offer' to striking union workers

Boeing said Monday it made a “best and final offer” to striking union machinists that includes bigger raises and larger bonuses than a proposed contract that was overwhelmingly rejected.

The company said the offer includes pay raises of 30% over four years, up from the rejected 25% raises. It would also double the size of ratification bonuses to $6,000, and it would restore annual bonuses that the company had sought to replace with contributions to workers' retirement accounts.

Boeing said average annual pay for machinists would rise from $75,608 to $111,155 at the end of the four-year contract.

The company said its offer was contingent on members of the International Association of Machinists and Aerospace Workers ratifying the contract by late Friday night.