Thousands of Boeing workers walked off jobs after rejecting contract offers.
According to CBS News, 33,000 machinists of Boeing early on Friday, September 13, walked off work from the factories in Washington, Oregon, and California after the union with the highest majority voted against the new contract offering a 25% increase in wages over four years.
The strike came as a new major blow for the company, which was already dealing with the financial losses and damaged reputation.
As per Boeing, the machinists of the company on average earn $75,608 per year (excluding overtime), and after the new contract, the average revenue would rise to $106,350 after four years.
However, the company, after the announcement of the strike, asserted that it is ‘ready to get back to the table to reach a new agreement.’
Boeing stated, “The message was clear that the tentative agreement we reached with IAM leadership was not acceptable to the members. We remain committed to resetting our relationship with our employees and the union.”
Furthermore, the aerospace company stock experienced a decline of 2.2% in the morning trading, bringing the loss of the company to 38.9% till now in 2024.
To note, the strike will not affect commercial flights but will become a new problem for a company already in trouble because of manufacturing issues and government investigations.
