Boeing Stock Drops as Machinists Reject Latest Deal, Continuing Strike
Boeing(BA) Investopedia·2024-10-24 18:06
KEY TAKEAWAYSBoeing shares are falling in premarket trading after its machinists union rejected a new contract offer, continuing a crippling strike at the plane maker that started six weeks ago.The 33,000 members of the International Association of Machinists (IAM) voted 64% against a proposed deal that would have given them a 35% wage increase over four years.The workers had wanted a 40% pay hike and a reinstatement of Boeing's pension plan. The company posted an enormous third-quarter loss Wednesday and s ...