Boeing’s white collar workers to receive 15 days bonus pay

Thousands of Boeing Co. workers will receive as much as 14.75 to 16 days of extra pay as reward for the company’s strong 2012 performance.

The incentive payouts “reflect our team’s progress toward helping our customers — and the company — succeed,’” Boeing CEO Jim McNerney, said in a statement Wednesday as the company reported results for 2012.

The aerospace company reported on Wednesdaythan analysts had expected.

Boeing earned $978 million in the last quarter, or $1.28 per share. That was down 30 percent from a profit of $1.39 billion a year earlier, which included a big tax benefit of 52 cents per share. But profit topped the $1.19 per share expected by analysts who had been surveyed by FactSet. For 2012, Boeing reported earnings per share of $5.88, up from $5.72 in 2011.

McNerney described the incentive payout as a “big ‘thank you’ for a job well done.”

Altogether, 107,000 workers across Boeing will receive the extra days of pay from the company’s employee incentive plan. Eligible employees include the company’s 23,000 engineers and technical workers who are members of the Society of Professional Engineering Employees in Aerospace. The payout will be included in employees’ Feb. 28 paycheck, Boeing said.

The number of days of pay for employees is determined by how well each of the different divisions within Boeing performed in 2012.

Commercial Airplanes employees, who helped Boeing deliver 601 airplanes last year, will receive up to 14.75 days. Defense and Space workers will receive 16 days, as do corporate and Boeing Capital workers.

The incentive payout for 2011, announced last January, was 15 to 16 days of pay.

Members of Boeing’s other major union, the International Association of Machinists and Aerospace Workers, are enrolled in a different incentive plan, as are workers at Boeing’s North Charleston, S.C., site. They’ll receive updates about incentives separately, Boeing said.

In 2013, Boeing employees can help the company continue “to meet our promises to our customers,” McNerney said.

The company predicts earnings per share for 2013 of between $6.10 and $6.30. It plans to deliver 635 to 645 airplanes, including at least 60 787s, which remain grounded by federal officials. Boeing officials said Wednesday that they see no significant financial impact from the 787 problem for 2013.

The Associated Press contributed to this report.

Herald reporter Michelle Dunlop: 425-339-3454.

More in Herald Business Journal

Teddy, an English bulldog, models Zentek Clothing’s heat regulating dog jacket. (Ian Terry / The Herald)
Everett clothing company keeps your dog cool and stylish

Zentek uses space-age fabrics to moderate the temperature of pets and now humans.

Everett engineers learn lessons from Mexico City catastrophe

Structural scientists went to help after the September earthquake there and studied the damage.

Providence said to be in talks for merger with Ascension

The two Catholic health organizations have been exploring joining forces, sources say.

Hospital companies merge as insurers encroach on their turf

An anticipated deal between Providence St. Joseph Health and Ascension is only the latest.

DaVita to sell off medical groups including The Everett Clinic

Another round of health care consolidation means The Everett Clinic could soon get new ownership.

Engine trouble hits Air New Zealand’s 787 Dreamliners

A Rolls-Royce engine was shut down and was afterward found to be seriously damaged.

Washington, Amazon sue company over seller training programs

Braintree is accused of using deceptive ads promising information on how to make money on Amazon.

Lockheed-Martin dominates global arms sales, Boeing is 2nd

The combined sales of U.S.-based companies totaled $217 billion.

The Marine Corps’ version of the F-35 Joint Strike Fighter is designed to land vertically like a helicopter. (Lockheed Martin)
F-35 fighter costs, $1 trillion over 60 years, draw scrutiny

Pentagon’s ability to repair F-35 parts at military depots is six years behind schedule.

Most Read