SEATTLE (AP) -- Boeing is attempting to change the retirement plan for jetliner workers as it negotiates new contracts with machinists and engineering unions.
The company wants to enroll new hires in a 401(k)-style plan instead of the existing Boeing pension. Negotiator Doug Kight told The Seattle Times Thursday the change is needed to cut Boeing's future pension liabilities.
Union leaders say they'll fight the proposal. The president of Machinists Union Local 751, Tom Wroblewski, called the proposal unbelievable. And the executive director of SPEEA (the Society of Professional Engineering Employees in Aerospace), Ray Goforth, said it could lead to a strike.
The machinist union represents 27,000 workers. Its contract expires Sept. 3.
The engineering union represents 20,000 workers. Its contract expires Dec. 1.
