The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

Boeing withdraws contract offer after talks with union end without a deal

by admin October 10, 2024
October 10, 2024
Boeing withdraws contract offer after talks with union end without a deal

Boeing withdrew a contract offer for 33,000 machinists who have been on strike since mid-September, and said further negotiations “do not make sense at this point.”

The machinists walked off the job on Sept. 13 after overwhelmingly rejecting a tentative labor deal, halting production of most of Boeing’s aircraft, which are made in the Puget Sound area. Boeing later sweetened the offer, increasing pay raises, a ratification bonus and other improvements, which the union turned down, arguing that it was not negotiated.

Talks again broke down this week, meaning the strike will continue. The stoppage will cost Boeing more than $1 billion per month, S&P Global Ratings said Tuesday as it issued a negative outlook for the aerospace giant’s credit ratings.

Stephanie Pope, CEO of Boeing’s commercial aircraft unit, said the company improved contract pay during talks this week but said the union didn’t consider the proposals.

“Instead, the union made non-negotiable demands far in excess of what can be accepted if we are to remain competitive as a business,” Pope said in a staff note.

The union, the International Association of Machinists and Aerospace Workers, said Tuesday that Boeing refused to improve wages, retirement plans and vacation or sick leave.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
GM ditching ‘Ultium’ name for batteries and tech amid EV changes
next post
AMD launches AI chip to rival Nvidia’s Blackwell

Related Posts

Tesla has downsized by at least 14% this...

June 24, 2024

Biden administration to require advanced safety tech on...

April 30, 2024

Social Security Administration will no longer count food...

March 29, 2024

Tesla shares fall after deliveries drop 8.5% from...

April 3, 2024

Nvidia’s $279 billion wipeout — the biggest in...

September 5, 2024

CrowdStrike losses may be biggest test yet of...

July 26, 2024

Netflix ad-supported tier has 40 million monthly users,...

May 17, 2024

Hunter Biden sues Fox News under New York’s...

July 2, 2024

Hims & Hers Health says it will offer...

May 23, 2024

Dick’s Sporting Goods stands by full-year guidance —...

May 29, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Microsoft says goodbye to the Windows blue screen of death

      July 1, 2025
    • Home Depot is buying GMS for about $4.3 billion as retailer chases more home pros

      July 1, 2025
    • Home Depot is buying GMS for about $4.3 billion as it chases more home pros

      July 1, 2025
    • Google makes first foray into fusion in venture with MIT spinoff Commonwealth Fusion Systems

      July 1, 2025
    • The Best Five Sectors, #25

      July 1, 2025
    • Pullbacks & Reversals: Stocks Setting Up for Big Moves!

      July 1, 2025

    Categories

    • Business (1,276)
    • Politics (3,883)
    • Stocks (1,480)
    • Uncategorized (45)
    • World News (1,269)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved