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Jan 11, 00, 10:38 am
SEATTLE (AP) -- About 80,000 nonunion Boeing Co. workers could begin receiving annual bonuses next year if profit targets are met, company officials say.
Under the program announced Monday, about 40 percent of Boeing's work force would qualify for bonuses as high as two weeks' pay if financial goals in a given year are exceeded. Lesser bonuses would be awarded if the goals are not met but a minimum performance level is achieved.
The targets are not being released.
The program is part of an effort to achieve shareholder returns in the top quarter of the Standard and Poor's 500 index, Boeing chairman Philip M. Condit said in a prepared statement. ``A high-performance culture is critical to our future,'' Condit said.
A business planner who earns $60,000 in 2000 could qualify for a bonus as high as $2,300 before taxes, company spokesman Peter Conte said.
Boeing officials said negotiators would be willing to discuss the same approach in contract talks with the Society of Professional Engineering Employees in Aerospace, which represents engineers, scientists, manual writers, computer software designers and technicians.
Union members voted down a contract offer by more than 98 percent last month. One of the issues was the lack of bonuses.
Executive director Charles Bofferding said union negotiators are interested in the bonus idea but are skeptical of how it was raised.
``It couldn't have been handled worse than it was, with the exception of waiting until we finished our contract'' negotiations, Bofferding said. ``The Boeing Co. is still of two minds on how to best interact with its employees and the unions they have chosen to represent them.''
See:
http://www.nytimes.com/aponline/f/AP-Boeing-Bonuses.html
Under the program announced Monday, about 40 percent of Boeing's work force would qualify for bonuses as high as two weeks' pay if financial goals in a given year are exceeded. Lesser bonuses would be awarded if the goals are not met but a minimum performance level is achieved.
The targets are not being released.
The program is part of an effort to achieve shareholder returns in the top quarter of the Standard and Poor's 500 index, Boeing chairman Philip M. Condit said in a prepared statement. ``A high-performance culture is critical to our future,'' Condit said.
A business planner who earns $60,000 in 2000 could qualify for a bonus as high as $2,300 before taxes, company spokesman Peter Conte said.
Boeing officials said negotiators would be willing to discuss the same approach in contract talks with the Society of Professional Engineering Employees in Aerospace, which represents engineers, scientists, manual writers, computer software designers and technicians.
Union members voted down a contract offer by more than 98 percent last month. One of the issues was the lack of bonuses.
Executive director Charles Bofferding said union negotiators are interested in the bonus idea but are skeptical of how it was raised.
``It couldn't have been handled worse than it was, with the exception of waiting until we finished our contract'' negotiations, Bofferding said. ``The Boeing Co. is still of two minds on how to best interact with its employees and the unions they have chosen to represent them.''
See:
http://www.nytimes.com/aponline/f/AP-Boeing-Bonuses.html