Boeing machinists have voted against a new labor deal offering 35% wage increases over four years, extending a strike that has halted most of the company’s aircraft production for over five weeks. The strike is costing Boeing around $1 billion per month. The company also reported a $6 billion quarterly loss, its largest since 2020. CEO Kelly Ortberg emphasized the importance of resolving the strike to get the company back on track. Boeing’s machinists went on strike after rejecting a tentative agreement with 25% raises, demanding 40% wage increases. This is their first strike since 2008.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Boeing machinists have voted against a new labor deal offering 35% wage increases over
00:07four years, extending a strike that has halted most of the company's aircraft production
00:12for over five weeks.
00:13The strike is costing Boeing around $1 billion per month.
00:17The company also reported a $6 billion quarterly loss, its largest since 2020.
00:22CEO Kelly Ortberg emphasized the importance of resolving the strike to get the company
00:26back on track.
00:28Boeing's machinists went on strike after rejecting a tentative agreement with 25% raises,
00:33demanding 40% wage increases.
00:35This is their first strike since 2008.
00:38For all things money, visit Benzinga.com slash GSTV.