OREANDA-NEWS. Boeing employees represented by the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW) Local 1069 ratified an eight-year contract on Oct. 19. The represented employees work at the Boeing site in Ridley Park, Pa., and the contract will be in effect until 2022.

"Our goal has always been to recognize the outstanding work done by our Ridley Park employees, while ensuring the long-term viability of the site in today's challenging, 'more-for-less' environment," said Gary Baker, Boeing Defense, Space & Security director of Operations, East Region. "By ratifying this contract, our employees help us position ourselves to win new business, beyond our current production contracts. Boeing and our employees are committed to our customers and our community, and this is a critical step down our future path."

Within 30 days, eligible members will receive a USD 10,000 signing bonus, as well as compensation increases in each year of the contract. As of Jan. 1, 2017, members will transition to earning future retirement benefits in the company's enhanced 401(k) savings plan, while keeping all previously accrued value in their traditional pension plan.

"In every negotiation, there's give and take," said Chris Owens, UAW 1069 president. "We believe this contract benefits our members and their families by providing for them now and in the future by bringing economic stability to the Ridley Park site."