08:07 AM EDT, 06/28/2024 (MT Newswires) -- Boeing's ( BA ) financial and production challenges following a January mid-air panel blowout have not lessened workers' willingness to strike for better terms, Reuters reported Thursday, citing a union local president.

The International Association of Machinists and Aerospace Workers (IAM), which represents more than 30,000 Boeing ( BA ) workers in Washington state, is seeking improved retirement benefits and wage increases of more than 40% over three to four years, according to the report.

"Our members want a good agreement," IAM's District 751 president, Jon Holden, told Reuters, "but they are willing to strike if they have to."

IAM workers will vote on a strike authorization on July 17, but they cannot strike before the contract expires on Sept. 12, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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