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7mo ago

Boeing Workers Extend Strike After Rejecting Latest Contract Offer

The union's demand for pension restoration and higher wages remains a sticking point as Boeing grapples with significant financial losses.

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Boeing workers from the International Association of Machinists and Aerospace Workers District 751 gather on a picket line near the entrance to a Boeing production facility on the day of a vote on a new contract proposal during an ongoing strike in Renton, Washington, U.S. October 23, 2024. REUTERS/David Ryder/ File Photo
Boeing employees work the picket line in Renton, Washington, late Wednesday after union members voted to reject a new contract offer from the company.

Overview

  • Boeing machinists rejected a contract proposal offering a 35% wage increase and bonuses, extending a strike that has lasted over 40 days.
  • The union, representing 33,000 workers, is pushing for a 40% pay hike and the reinstatement of a defined pension plan, which Boeing has refused to restore.
  • The ongoing strike is costing Boeing approximately $1 billion per month, contributing to a reported $6 billion loss in the recent quarter.
  • Boeing's new CEO, Kelly Ortberg, emphasized ending the strike as a top priority for the company's recovery, acknowledging the need to rebuild trust with employees.
  • Analysts warn that the strike's continuation could further impact Boeing's production and financial stability, urging a swift resolution to negotiations.