Boeing and its largest union are entering the last week of contract negotiations before a threatened strike by more than 30,000 workers.
8 hours agoMan accused of animal cruelty after horse, pony found starving on south Bexar County propertyFILE - A Boeing machinist and union member leads cheers during the"stop work meeting" and strike sanction at T-Mobile Park in Seattle, July 17, 2024. and its largest union are entering the last week of contract negotiations before a threatened strike by more than 30,000 workers who build the planes that carry millions of airline passengers every year.
"What we are asking for is reasonable,” Holden said in an interview. “We need to get more wages to address the very low increases over the last 10 years, massive inflation, massive cost-shift on health care. We are trying to reach an agreement, but are ready to take action if we don't get there.”Boeing declined to make an executive available to discuss the labor negotiations. A spokesperson provided a one-sentence statement.
“He understands that they are basically contentious relationships with the union, and he wants to make those relationships better,” TD Cowen aerospace analyst Cai von Rumohr said. Meeting the union’s wage demand would cost Boeing $1.5 billion in cash, which is “a small price to pay versus a strike,” Jefferies aerospace analyst Sheila Kahyaoglu said. In a note to clients, she estimated a strike would cost the company about $3 billion, a calculation based on the impact of the 2008 strike plus inflation and current airplane-production rates.
Job security is emerging as a key issue in the current negotiations. The union is still seething over the loss of work on, a large, two-aisle jetliner that is assembled by nonunion Boeing workers in South Carolina. The IAM wants a guarantee its members will keep the work they have and that the union will represent the workers who build Boeing's next airliner.
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