Published On Nov 4, 2024, 11:59 PM
Boeing's largest union has approved a new contract that will increase wages by over 43% over the next four years, ending a nearly two-month strike involving around 33,000 workers. The approval comes after two earlier contracts were rejected. With the strike ending, the focus shifts to rebuilding the business, especially as the new CEO is aiming to restore Boeing's reputation and deal with workforce reductions.
Positive
The approval of the new contract may help stabilize Boeing's operations and restore confidence among investors after the disruptive strike. However, the CEO’s announcement of potential job cuts raises concerns about long-term productivity and business consolidation. The overall sentiment is cautiously optimistic for Boeing's stock as operations resume and wage increases could improve worker morale in the long run.
Nov 4, 2024, 6:04 AM
The October jobs report found the manufacturing sector lost 46,000 jobs amid strike activity at major manufacturers, extending a three-month slide that has seen the loss of 78,000 jobs.
Nov 1, 2024, 2:59 PM
Markets are taking a big miss in the monthly jobs report in their stride as they welcome Amazon and Intel's results.
Nov 1, 2024, 1:04 PM
Weary Boeing investors are getting a lift on Friday after the planemaker and its main worker union, the International Association of Machinists, struck a tentative deal.