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Home»Stock Market»Boeing strike barrels on as workers reject wage deal By Reuters
Stock Market

Boeing strike barrels on as workers reject wage deal By Reuters

November 8, 2024No Comments2 Mins Read
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Written by Daniel Catchpole, Allison Lampert, and Matt McKnight, this article discusses the rejection of a contract offer by Boeing factory workers, leading to a continuation of their more than five-week strike. Despite the offer including a 35% wage increase over four years, 64% of workers voted against it. This setback for CEO Kelly Ortberg’s plan to stabilize the company’s finances reflects years of worker resentment and financial struggles at Boeing. The rejection has prompted union leaders to resume negotiations with Boeing, seeking a 40% pay raise and the return of defined-benefit pensions. The strike, which began on September 13, has halted production of key Boeing programs. The article also highlights the financial strain on Boeing and its suppliers, as well as the impact on the aerospace supply chain. With Boeing facing job cuts and financial challenges, the rejection of the contract offer poses further difficulties for the company. The article emphasizes the importance of reaching a deal soon and the need for constructive discussions between Boeing and the union to resolve the ongoing strike.

“Boeing may have been a giant in the industry, but this time around, we have stronger foundations to rely on,” expressed Donovan Evans, a 30-year-old employee at the 767 jet factory located near Seattle.

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