{"id":2505,"date":"2024-09-26T02:02:38","date_gmt":"2024-09-26T02:02:38","guid":{"rendered":"https:\/\/cryptoopia.com\/stock-markets\/2505.html"},"modified":"2024-09-26T02:02:38","modified_gmt":"2024-09-26T02:02:38","slug":"boeing-striking-union-to-resume-contract-talks-on-friday","status":"publish","type":"post","link":"https:\/\/cryptoopia.com\/stock-markets\/2505.html","title":{"rendered":"Boeing, striking union to resume contract talks on Friday"},"content":{"rendered":"

By David Shepardson and Allison Lampert<\/p>\n

(Reuters) -Boeing and its largest union will resume contract talks on Friday in a bid to end a strike that has throttled plane production and hammered the finances of the aerospace giant, the union and company said on Wednesday. <\/p>\n

More than 32,000 Boeing (NYSE:BA<\/span>) workers in the Seattle area and Portland, Oregon, walked off the job on Sept. 13 in the union’s first strike since 2008, halting production of airplane models including Boeing’s best-selling 737 MAX.<\/p>\n

Negotiators from Boeing and the International Association of Machinists and Aerospace Workers (IAM) will meet with federal mediators in a bid to break the deadlock, after two days of previous talks collapsed a week ago.<\/p>\n

“The Union is ready for this opportunity to bring forward the issues that members have identified as critical to reaching an agreement,” IAM said in a statement.<\/p>\n

“We know that the only way to resolve this strike is through negotiations.”<\/p>\n

Boeing confirmed the talks would continue on Friday but had no further comment.<\/p>\n

Hours before the strike started, nearly 95% of workers at the IAM rejected Boeing’s initial offer of a 25% pay rise over four years, arguing it did not make up for more than a decade of stagnant wage increases that had lagged inflation.<\/p>\n

Boeing made an improved offer on Monday it described as its “best and final”, which would give workers a 30% raise over four years and restored a performance bonus. The union said a survey of its members found that was not enough and has declined to put it to a formal vote.<\/p>\n

\"\u00a9<\/p>\n

“The company’s latest offer didn’t meet the needs of our members. That message came through loud and clear in our latest survey,” IAM’s statement said.<\/p>\n

The union has been seeking a 40% pay rise and the restoration of a defined-benefit pension that was taken away in the contract a decade ago.<\/p>\n

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