11 sources·Business

Boeing Workers Reject Contract Offer, Strike Continues

Boeing machinists reject a 35% wage increase offer, extending a strike that has halted production and raised concerns about the company's financial stability.

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Updated: Oct 24th, 2024, 2:36 AM ET

Summary

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Boeing machinists overwhelmingly voted against a contract offer, continuing a strike that has lasted over six weeks, which has halted production and aggravated financial losses. The rejected deal, which included a 35% pay rise over four years, did not restore a frozen pension plan. The strike, involving over 33,000 workers, stems from ongoing grievances over pay and benefits. Boeing's financial troubles deepen with a reported $6 billion loss in the last quarter and increasing scrutiny over safety issues, exemplified by recent federal investigations.

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