Boeing at Risk of Major Strike as Union Members Prepare to Cast Votes

Last updated on September 16th, 2024 at 06:51 am

Around 30,000 Boeing employees are set to vote this Thursday in a pivotal decision that could lead to a significant strike against the aerospace giant with broad implications for the U.S. economy. The workers represented by the International Association of Machinists and Aerospace Workers (IAM), span plants in Washington, Oregon, and California.

Earlier this week Boeing reached a tentative agreement with IAM offering a 25% wage increase over four years improvements in healthcare, and retirement benefits. However, union members could still reject the deal, initiating a strike that could begin as early as Friday.

Boeing is facing tough times right now, dealing with financial problems and damage to its reputation from past safety issues. If workers go on strike, it would make things even harder for the company, which is already $60 billion in debt and has seen its stock price drop by 40% since the beginning of 2024.

While Boeing has expressed optimism about its contract offer calling it the best deal ever presented frustrations are running high among the workforce. Many workers feel that the proposed deal doesn’t adequately reflect their contributions, especially given the company’s past mismanagement.

The union will announce the results of the ratification vote later tonight. If the workers reject the deal Boeing and the union will have to renegotiate. According to the experts, this strike could further hurt the already struggling company.

This strike will not have an immediate impact on current operations, but it could disrupt production lines, and suppliers, and also can create further complications on the recovery of the company.