EVERETT — Boeing and the International Association of Machinists and Aerospace Workers (IAM) are reportedly close to an agreement for union members’ performance bonus for 2014.
Jon Holden, the head of IAM’s District Lodge 751, which represents about 32,000 Boeing employees, said in an email sent Wednesday to members that the union and Boeing are still in talks about the amount of the bonus.
Boeing’s early proposal was too low considering that the airplane maker set a record for airplane deliveries in 2014, he said in the email. The payout should “adequately reward our members for the outstanding work they did.”
The two sides are close to an agreement, according to a person familiar with the talks.
The payout, called the Aerospace Machinists Performance Program, is based on improvements in productivity, quality and safety. The maximum amount is 4 percent of annual pay.
In November, Boeing had proposed Machinists get a bonus worth 2.8 percent of their 2014 pay.
The payout was created in the 2011 contract between Boeing and the IAM. The first payout, which covered the second half of 2012, was 3.1 percent. Machinists got a 4 percent bonus for 2013.
To get the full amount again this year, workers had to improve productivity by 10 percent, quality by 16 percent and safety by 16 percent.
Productivity counts for 50 percent of the payout, quality for 30 percent and safety for 20 percent.
Dan Catchpole: 425-339-3454; firstname.lastname@example.org; Twitter: @dcatchpole.