financetom
Business
financetom
/
Business
/
White House urges Boeing, striking union to work to reach deal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
White House urges Boeing, striking union to work to reach deal
Nov 3, 2024 11:15 AM

WASHINGTON, Oct 24 (Reuters) - The White House said on

Thursday it was encouraging Boeing ( BA ) and the union

representing about 33,000 striking machinists to continue

working to reach a deal, a day after workers rejected the

planemaker's latest contract offer.

President Joe Biden "directed his team ... to encourage

parties to continue working to achieve an agreement that works,

certainly for all parties," White House press secretary Karine

Jean-Pierre told reporters. "We're going to continue to monitor

those negotiations and continue to make sure that we encourage

that."

Earlier on Thursday, the Labor Department said Acting

Secretary Julie Su was in contact with Boeing ( BA ) and the

International Association of Machinists and Aerospace Workers.

She was in Seattle twice last week to assist in contract

talks that are aimed at ending a six-week strike that has halted

production of Boeing's ( BA ) best-selling 737 MAX as well as 767 and

777 wide-body programs.

A spokesperson for Su said she "is available to support"

Boeing ( BA ) and IAM.

Boeing ( BA ) declined to comment. The IAM did not respond to a

request for comment.

The union said 64% of workers voted against the latest deal,

which offered a 35% rise in wages over four years.

The rejection of Boeing's ( BA ) offer, which comes after 95% of

workers voted against a first contract last month with a 25% pay

hike, reflects years of resentment from workers and deepens a

financial crisis at the company.

After the vote, union leaders said they were ready to

immediately resume negotiations with Boeing ( BA ).

The union has been seeking a 40% pay rise and the return of

a defined-benefit pension.

Since the strike began on Sept. 13, Boeing ( BA ) has announced

plans to cut 17,000 jobs and is closing in on a plan to raise up

to $15 billion from investors to help preserve its investment

grade credit rating. Some airlines have had to trim schedules

due to aircraft delivery delays.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved