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M. Scott Brauer / Bloomberg by way of Getty Photos
Employees picket outdoors a Boeing Co. facility throughout a strike in Everett, Washington, on Sept. 16, 2024.
Key Takeaways
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Boeing and its largest union accomplice are resuming contract negotiations beneath federal mediation Wednesday.
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The union is demanding a 40% wage enhance over three to 4 years and rejected the corporate’s supply of a 25% elevate.
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The Worldwide Affiliation of Machinists and Aerospace Employees started a strike of the corporate following a vote final Thursday.
Boeing (BA) and its largest union accomplice are resuming contract negotiations with federal mediators current Wednesday, the Worldwide Affiliation of Machinists and Aerospace Employees (IAM) mentioned in a social media put up.
The union accused Boeing of not “taking mediation severely,” significantly on the problems of wages and pensions, days after IAM members approved a strike of the airplane producer.
“We is not going to mince phrases—after a full day of mediation, we’re annoyed,” the union wrote Tuesday night time. “…With a 96% strike vote, we thought Boeing would lastly perceive that IAM 751 Machinists are demanding extra.”
The IAM is demanding a 40% enhance in wages over three to 4 years. Boeing offered 25%, which the union rejected. The IAM represents roughly 33,000 Boeing staff throughout Washington, Oregon, and California.
Boeing didn’t instantly return an Investopedia request for remark.
Boeing Pauses Orders
In a memo to Boeing workers shared earlier this week with Investopedia, Chief Financial Officer (CFO) Brian West mentioned the corporate will halt most buy orders for the 737, 767, and 777 plane. Boeing is also pushing again pay raises for salaried staff and suspending all first- and business-class air journey, together with for its executives.
Shares of Boeing edged larger in noon buying and selling Wednesday however are down about 40% this yr following a string of security incidents, most notably an Alaska Airways flight in January when a door plug blew off in midair.
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