Boeing Boosts White-Collar Workers’ Bonuses by 20 Percent
February 06, 2012, 5:24 PM ESTBy Susanna Ray
(Updates with orders, deliveries in fourth paragraph.)
Feb. 3 (Bloomberg) -- Boeing Co. will pay 20 percent more in 2011 bonuses to nonexecutive white-collar employees after the planemaker won more orders, delivered more jets and increased profit for the year.
Boeing will pay $605.1 million to 109,993 employees for 2011, up from $502.6 million to 108,000 people a year earlier, Todd Blecher, a spokesman for the Chicago-based company, said today in an e-mail. That amounts to 15 or 16 days of pay for each worker, he said. The bonuses will be paid starting Feb. 16.
“In 2011, both our major businesses and our functions performed very well against their annual plans for financial performance, and the strong integrated company score and resulting award payouts for eligible employees reflect those efforts,” Chief Executive Officer Jim McNerney said in a statement.
Boeing last week reported a 20 percent increase in 2011 net income, after it delivered 32 percent more planes and won 52 percent more orders. Profit for 2012 will probably drop, the company forecast, dragged down by rising pension expenses and declining U.S. defense spending.
Machinists approved a separate contract in December that provided $5,000 signing bonuses and a new performance-based incentive program. Boeing employs about 172,000 globally, with commercial-jet manufacturing based in Seattle and defense operations in St. Louis.
--Editors: Romaine Bostick, Stephen West
To contact the reporter on this story: Susanna Ray in Seattle at sray7@bloomberg.net
To contact the editor responsible for this story: Ed Dufner at edufner@bloomberg.net
