Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

Business

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

by 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
Ripple and Tron: New support levels on Thursday

You may also like

In wake of L.A. wildfires, a diverse small...

March 3, 2025

Dollar stores are struggling to win over bargain...

December 4, 2024

The fight over credit card swipe fees enters...

January 6, 2025

Amazon expects to cut corporate jobs as it...

June 18, 2025

Home prices hit record high in June on...

August 28, 2024

Elon Musk, Tesla, Warner Bros. Discovery sued over...

October 22, 2024

Nordstrom to go private in $6.25 billion deal...

December 24, 2024

‘Wicked’ tallies $19M in previews, as ‘Gladiator II’...

November 24, 2024

Nvidia loses nearly $600 billion in market value...

January 28, 2025

Classic car sales stall in Monterey auctions as...

August 27, 2024

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


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



    Latest

    • State Department to begin mass layoffs of about 1,800 employees in coming days

      July 11, 2025
    • Duffy just got an additional job in Trump’s administration, and he’s not the only one wearing multiple hats

      July 11, 2025
    • Duffy just got an additional job in Trump’s administration — and he’s not the only one wearing multiple hats

      July 10, 2025
    • ‘It will happen quickly’: State Dept poised to act after Supreme Court green-lights agency layoffs

      July 10, 2025
    • Hegseth tears up red tape, orders Pentagon to begin drone surge at Trump’s command

      July 10, 2025
    • SCOOP: Sen Ron Johnson readies subpoenas for FBI, DOJ in Butler shooting probe

      July 10, 2025

    Categories

    • Business (714)
    • Investing (661)
    • Politics (4,862)
    • World News (3,213)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.com, 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 © 2024 WhaleLargeCapital.com | All Rights Reserved