Boeing strike costliest in economic damage so far in 2024

Published On Oct 22, 2024, 6:00 AM

The ongoing strike by Boeing's union machinists is reported to be the costliest in the U.S. for 2024, costing an estimated $7.6 billion so far. The union is voting on a tentative agreement that includes a significant pay raise, an incentive plan, and a bonus. Economic experts warn that even if the strike ends soon, the long-term impacts could exceed current losses, affecting Boeing's operations, management, and supply chain, and damaging the company's standing as a major U.S. exporter.