Boeing Strike Forces Furloughs and Pay Cuts
Boeing Strike Forces Furloughs and Pay Cuts

Boeing Strike Forces Furloughs and Pay Cuts

News summary

A strike by 33,000 Boeing union machinists, which began on September 13, has led to significant operational disruptions and forced the company to implement temporary furloughs and executive pay cuts to conserve cash. The International Association of Machinists and Aerospace Workers, representing the striking employees, is demanding a 40% pay raise and the restoration of traditional pension benefits, rejecting Boeing's offer of a 25% pay increase over four years. Federal mediators joined the negotiations but made little progress, and no future talks are scheduled. Boeing CEO Kelly Ortberg announced that furloughs would affect thousands of nonunion employees, including executives and managers, with workers being furloughed for one week every four weeks. The strike has halted production of key Boeing models, including the 737 Max, affecting the company's cash flow as plane deliveries are postponed. Boeing management remains open to further discussions with the union to reach a new agreement.

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19
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4
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2
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9
Last Updated
60 days ago
Bias Distribution
40% Center

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