Boeing (BA) is back at the bargaining table with the union representing its on-strike machinists. The company and the International Association of Machinists and Aerospace Workers are trying to reach an agreement on a new contract after a previous offer promising 25% raises was voted down by members, triggering a work stoppage.
“On Friday, September 27, 2024, your Union Negotiating Committee, and the Boeing Company will meet with the Federal Mediation and Conciliation Services (FMCS) to continue mediated negotiations. The Union is ready for this opportunity to bring forward the issues that members have identified as critical to reaching an agreement,” the IAM said in an update to membership earlier this week. “We know that the only way to resolve this strike is through negotiations.”
Boeing did not immediately respond to a request for comment. After the strike began, the planemaker publicly announced a “best and final offer” for a contract featuring a 30% raise. The IAM, which had been seeking a 40% raise during previous negotiations, chastised the company for not properly negotiating before putting the figure in front of its workers.
After a door plug blowout earlier this year afflicted one of its 737 Max 9 aircraft, Boeing has been struggling to keep money coming in the door with a Federal Aviation Administration-imposed cap on plane production speeds. Improving its quality-control and safety measures while dealing with the cap has led to a serious cash-drain problem, which is worsened by a strike-induced revenue pause. One analyst estimates that the company is losing $50 million from its coffers for every day that its machinists are off the job.
Source Agencies
