The International Association of Machinists and Aerospace Workers (IAM) initiated a work stoppage affecting 30,000 Boeing employees after rejecting a proposed contract that included a 25% wage increase. The Federal Mediation and Conciliation Service (FMCS) is set to facilitate negotiations between IAM and Boeing in hopes of resolving the dispute quickly. IAM President John Holden emphasized the need for a more substantial wage increase, citing a 40% demand, alongside other critical issues such as pension and healthcare adjustments. Boeing has acknowledged the strike's potential to disrupt operations and has expressed readiness to negotiate a better deal. Analysts note that a prolonged strike could exacerbate Boeing's existing financial troubles, as the company has already faced significant market value losses this year. Both parties are committed to returning to the negotiating table soon to avoid further economic impact.