Boeing union hits out over 'final' 30% pay rise offer

Published On Sep 23, 2024, 10:04 PM

Boeing workers are currently on strike following the rejection of a new contract that offered a 30% pay increase over four years. The offer also included reinstated performance bonuses and improved retirement benefits, but the union, IAM, stated that it was presented without negotiation and deemed disrespectful. Boeing has suspended jobs and is taking cost-saving measures due to the strike's impact, which is projected to cost the company billions. The U.S. government is stepping in to mediate the negotiations.

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The ongoing strike and lack of resolution between Boeing and its union could lead to further delays in production and additional financial strain on Boeing due to halted shipments and costs associated with worker furloughs. If the strike continues without a viable resolution, investor confidence may wane, potentially leading to a decline in stock value.

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