Boeing and the IAM initiate contract negotiations, seeking a new agreement after 16 years, with the IAM demanding improved retirement benefits and substantial wage increases.
Boeing and the International Association of Machinists and Aerospace Workers (IAM) began contract negotiations, aiming for their first new contract in 16 years. The IAM, representing 30,000+ workers, seeks better retirement benefits and wage increases of over 40% over three to four years. Boeing is navigating a 737 MAX safety crisis and significant financial losses, reported a net loss of $2.2bn in 2023 after losing $5bn in 2022. Analysts predict a high likelihood of strike if management doesn't largely concede to the union's demands.
March 05, 2024
5 Articles