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Boeing Workers Reject New Labor Contract with 64% Voting No, Extending Six-Week Strike
Oct 24, 2024, 02:16 AM
Boeing factory workers have voted to reject a new labor contract, extending their strike which has now lasted for over six weeks. The rejected contract included a 35% wage increase over four years, a $7,000 ratification bonus, and increased 401(k) contributions. The strike has significantly impacted Boeing’s production capabilities and financial stability, with the company reporting a $6.2 billion loss in the third quarter. The union, representing Boeing machinists, cited the loss of defined-benefit pensions as a sticking point. Union leaders hope to resume negotiations with Boeing in the coming days. 64% of union members voted against the proposal.
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