This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7694456.stm

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Boeing unions 'reach strike deal' Boeing unions reach strike deal
(about 3 hours later)
US planemaker Boeing has reached a tentative deal to end a strike by assembly workers, say representatives of the machinists' union. US planemaker Boeing has reached a tentative deal to end a strike by assembly workers, say union and management representatives.
Boeing has not yet confirmed the deal, but a union spokesman said it would be put to workers in the next few days. The four-year settlement would improve job security and limit outsourcing.
Some 27,000 Boeing workers walked off the job on 6 September in protest over pay, outsourcing and other issues.Some 27,000 Boeing workers walked off the job on 6 September in protest over pay, outsourcing and other issues.
Last week, the company said the strike, plus some delays in production, had cost it 60 cents per share in profit. Analysts says the strike has been costing the airline manufacturer $100m a day, as delivery of finished planes dropped by more than 40%.
Francis Larkin, a spokesman for the International Association of Machinists and Aerospace Workers (IAM), told the Associated Press that a deal was reached late on Monday, at the end of five days of talks in Washington DC. The two parties reached the agreement late on Monday, at the end of five days of talks in Washington DC.
IAM said the proposed deal had their unanimous endorsement and would be put to a vote in three to five days. The International Association of Machinists and Aerospace Workers (IAM) would not confirm full details of the agreement, but president Tom Buffenbarger said it "addressed all the major concerns" of union members.
The agreement is believed to address the major issues of outsourcing, including access to the shop floor for subcontractors and procedures for the union to bid for work before it is outsourced.
IAM said the deal had their unanimous endorsement and would be put to a vote in three to five days.
"The members make that final decision, but I'm hopeful," said Mr Buffenbarger.
'Difficult task'
Boeing has had a difficult six months. The global economic crisis, fluctuating oil prices and concerns about the financial viability of several airlines have all led to its share price plummeting 41% over the period.Boeing has had a difficult six months. The global economic crisis, fluctuating oil prices and concerns about the financial viability of several airlines have all led to its share price plummeting 41% over the period.
However, the company has said that it can cope, even if strike action lasts longer. However, the company has said that it can cope, even if strike action were to last longer.
The president of Boeing Commercial Airlines, Scott E Carson, said the proposed deal would reward employees for their contributions to the company's success, while also preserving Boeing's competitive ability.
Meanwhile, the brokers of the talks praised both parties for their commitment to the mediation process.
"Both sides showed professionalism and a willingness to roll up their sleeves and to stick with the difficult task in front of them," said the director of the US Federal Mediation and Conciliation Service, Arthur Rosenfeld.