2 chapters across the catalog
Negotiations have resumed between Boeing and the striking machinists union after seven weeks of production stoppages. While the two sides have neared an agreement on wages, the restoration of traditional retirement benefits remains a major sticking point. The union argues that Boeing broke previous promises not to move operations out of the Seattle area in exchange for benefit concessions.
Boeing Strike, Machinist Union, Financial Crisis
Negotiations between Boeing and the union representing 33,000 striking machinists have collapsed after the company withdrew its "best and final" offer of a 30% pay raise. The union is holding out for 40% and the reinstatement of defined benefit pensions. Boeing is reportedly losing $1 billion per month during the shutdown and is carrying over $60 billion in debt, threatening the stability of the U.S. aerospace and defense industry.
