Boeing workers in the Seattle region rejected the aerospace giant’s latest contract offer, prolonging their six-week strike. The International Association of Machinists and Aerospace Workers District 751 reported that 64 percent of members voted against the contract, which included a 35 percent wage hike but did not address the reinstatement of a pension plan.
Since September 13, 33,000 hourly IAM workers have been on strike, impacting production at two Seattle-area factories. Workers demanded a 40 percent wage increase to offset years of stagnant salary growth, citing the high cost of living in the region.
Jon Holden, president of the Seattle union, emphasized the need to make up for past sacrifices, while Boeing’s new CEO Kelly Ortberg expressed disappointment in the rejection. The strike has contributed to Boeing’s $6.2 billion loss in the third quarter, along with ongoing regulatory challenges.
Boeing’s plans to raise $15 billion in securities aim to strengthen liquidity amid production slowdowns and safety concerns following prior incidents with the 737 MAX. The company faces scrutiny as it works towards resolving the strike and improving its financial outlook.
© 2024 AFP