Boeing Co.'s (BA) Defense, Space & Security division Sunday said members of the International Association of Machinists and Aerospace Workers District 837 have approved a long-term contract extension intended to better position the company to compete for work that is critical to its St. Louis site's future.
Within 30 days, eligible members will receive an $8,000 signing bonus. They will also get general wage increases in 2016, 2018, 2020, and 2022, along with lump-sum payments in 2017, 2019, and 2021.
The company's contract with the more than 2,300 represented workers now expires in July 2022. It was to have expired in January 2015.
Boeing St. Louis site executive Bill Schnettgoecke said, "We welcome today's ratification. Not only does it better position us to compete, but it also ensures that our highly-skilled IAM-represented employees, those with us today and in the future, are appropriately compensated for their important work."
BA closed around 1 percent on Friday at $128.28.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.