Boeing Workers Remain on Strike After Union Turns Down Proposal Citing Concerns About Pay and Pensions
- Boeing Midwest defense workers reject latest contract offer, extending 82-day strike over retirement benefits and wage hikes. - IAM union demands match 2024 Seattle deal terms, criticizing Boeing's proposal as insufficient for senior workers. - Defense production continues but strike risks disrupting military aircraft/weapon contracts, key to 1/3 of Boeing's revenue. - Workers lose $25,000 in pay/benefits; stalled negotiations raise concerns ahead of October 30 earnings report amid industry challenges.
Defense employees at Boeing Co. (BA) facilities in the Midwest have turned down the company's most recent contract proposal, prolonging a strike that has stretched close to three months and further complicating the aerospace leader's attempts to steady its finances. The International Association of Machinists and Aerospace Workers (IAM), which represents 3,200 staff members at sites in St. Louis, St. Charles (Missouri), and Mascoutah (Illinois), voted against the offer on Sunday, according to
The walkout, which started on August 4, came after previous proposals were rejected—those offers included a 20% pay raise over five years and a $4,000 signing bonus, as reported by
Boeing’s Defense, Space & Security unit, responsible for more than a third of the company’s income, continues to operate during the strike, with backup plans in place to maintain customer support, according to
Over the course of the 82-day strike, employees are estimated to have missed out on $25,000 in wages and $3,900 in benefits,
With talks stalled, Boeing is preparing to release its third-quarter financial results on October 30, as analysts look for any signs that the strike is impacting the company’s finances,
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