Boeing Workers to Vote on Contract Amid Ongoing Strike

Boeing factory workers are set to vote on a new contract proposal to potentially conclude a five-week strike. The proposal includes a 35% pay raise over four years, a $7,000 ratification bonus, and other benefits. The vote coincides with Boeing's third-quarter financials, potentially impacting their debt rating.

Boeing's factory workers face a pivotal moment as they prepare to vote on a new contract proposal that could end their five-week-long strike. The outcome is critical for the struggling aerospace giant, which is battling a worsening financial crisis. Production of its leading aircraft lines, the 737 MAX, 767, and 777, has been halted since September 13 when approximately 30,000 machinists walked out.

Negotiations between Boeing and the IAM union have been fraught with tension, marked by mutual blame for stalled talks. Voting opens at 8 a.m. PDT, closing at 5 p.m., with a simple majority needed to pass the deal. Simultaneously, Boeing will announce third-quarter results anticipated to show significant losses, with potential downgrades to its debt status looming if the strike continues.

The contract on the table offers a 35% wage increase over four years and additional benefits, surpassing a previously rejected offer but falling short of union demands. Divided opinions among workers suggest the vote's outcome is uncertain, with significant implications for Boeing and the aerospace industry at large.

(With inputs from agencies.)