Upon the request of SPEEA, Boeing’s senior leaders sent a correction/clarification regarding the Employee Incentive Plan award payout Feb. 3.
Boeing’s initial communication Feb. 3 referenced a payout of 13.1 days. The 2020 SPEEA’s Puget Sound Prof and Tech contracts changed the target payout from 10 days (approximately 3.84%) to 5%. This year’s EIP bonus is 131% of 5% which equals 6.55% of eligible earnings.
Boeing issued the clarification within hours of SPEEA’s request. The message came from David Loffing, vice president and chief engineer for BCA Development Programs and Doug Backhus, vice president and chief engineer for BCA Production Program to all SPEEA-represented employees and their managers.