Published: Wednesday, January 26, 2011, 6:17 p.m.
Boeing handing out $5,000 bonuses to 45,800 employees in state
Non-machinist workers will receive an average 14 days of additional pay
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About 45,800 Boeing Co. workers in Washington state will receive an average bonus of $5,000 in February, the company said Wednesday.
Boeing employees in the Puget Sound area will receive about 14 days' worth of pay as an incentive bonus for the company's 2010 performance. Boeing's commercial airplanes division delivered 462 aircraft last year, which was down from 481 in 2009. The company previously had announced plans to scale back production in 2010 because of a drop in airline demand.
Overall, the company posted revenue of $64.3 billion, or $4.45 per share, in 2010, Boeing said Wednesday. But the company estimated its 2011 earnings will drop on higher pension costs and 787 delays.
Boeing didn't provide a total dollar figure for the payout. However, Boeing workers received an extra seven days' pay last year, which totaled $115 million.
Karen Forte, a spokeswoman for Boeing, said the company revised its incentive program in 2010. Workers in the company's divisions will receive slightly different bonus pay based on each division's performance. For example, defense workers will get 12 days of pay, while commercial airplanes workers will receive a little more than 14.
Boeing employees with the Machinists union aren't eligible for the incentive payout. Nearly 25,000 machinists received a lump sum payment of $1,500 each in November, based on the union's contract with Boeing.
Boeing employees in the Puget Sound area will receive about 14 days' worth of pay as an incentive bonus for the company's 2010 performance. Boeing's commercial airplanes division delivered 462 aircraft last year, which was down from 481 in 2009. The company previously had announced plans to scale back production in 2010 because of a drop in airline demand.
Overall, the company posted revenue of $64.3 billion, or $4.45 per share, in 2010, Boeing said Wednesday. But the company estimated its 2011 earnings will drop on higher pension costs and 787 delays.
Boeing didn't provide a total dollar figure for the payout. However, Boeing workers received an extra seven days' pay last year, which totaled $115 million.
Karen Forte, a spokeswoman for Boeing, said the company revised its incentive program in 2010. Workers in the company's divisions will receive slightly different bonus pay based on each division's performance. For example, defense workers will get 12 days of pay, while commercial airplanes workers will receive a little more than 14.
Boeing employees with the Machinists union aren't eligible for the incentive payout. Nearly 25,000 machinists received a lump sum payment of $1,500 each in November, based on the union's contract with Boeing.
Story tags » • Employees • Machinists • BusinessInsider stories
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