Strike

when

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<p class="has-drop-cap">Boeing’s (NYSE: BA) seven-week labor dispute may be nearing its end as the International Association of Machinists and Aerospace Workers (IAM) <a href="https://www.fox41yakima.com/boeing-again-raises-offer-to-end-strike-union-to-vote-monday/" target="_blank" aria-label="prepares to vote on an enhanced contract offer this Monday (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">prepares to vote on an enhanced contract offer this Monday</a>. The strike, involving 33,000 workers, has dealt significant financial blows to the aerospace giant while highlighting ongoing tensions over employee benefits and compensation.</p>
<h3 id="latest-proposal-from-boeing-includes-a-38-wage-increase">Latest Proposal from Boeing Includes a 38% Wage Increase</h3>
<p>The latest proposal from Boeing includes a 38% guaranteed wage increase over four years and a $12,000 signing bonus, marking a substantial improvement from the previously rejected offer that featured a 35% raise and $7,000 bonus. <br><br>The new terms come after 64% of union members voted down the earlier proposal, with workers particularly concerned about Boeing’s stance on reinstating the defined benefit pension plan eliminated a decade ago. <br><br>The situation intensified on October 1 when Boeing discontinued employee healthcare benefits, leaving strikers to rely on $250 weekly strike pay.</p>
<p>The prolonged work stoppage has severely impacted Boeing’s operations, forcing the company to announce plans for <a href="https://tokenist.com/boeing-workers-reject-new-offer-as-firm-reports-massive-losses-strike-continues/" rel="noopener noreferrer nofollow" class="deco-link">laying off 17,000 workers</a> – approximately 10% of its commercial unit. The strike escalated existing challenges for Boeing, which was already grappling with quality control issues in its commercial aviation division and a $2 billion loss in its defense and space business.</p>
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<h3 id="financial-toll-of-boeing-s-labor-strike-mounts">Financial Toll of Boeing’s Labor Strike Mounts</h3>
<p>The financial impact of the strike has been devastating for Boeing, which reported a $6 billion loss for the third quarter of 2024, with revenue declining from $18.1 billion to $17.8 billion year-over-year. Total estimated direct economic losses have reached $7.6 billion, including $4.35 billion in losses for Boeing and nearly $2 billion for its suppliers. The company’s stock has suffered as well, with year-to-date returns down 40.75%, significantly underperforming the S&amp;P 500’s 20.65% gain.</p>
<p>Despite the ongoing challenges, Boeing’s stock showed signs of optimism on Friday, trading up 3.43% at $154.43 by midday. However, the company’s broader financial metrics remain concerning, with a negative profit margin of 10.88% and <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">diluted earnings per share</a> of -$12.95. While Boeing maintains $10.47 billion in cash reserves, its market capitalization has dropped to $115.448 billion, reflecting investor concerns about the company’s path to recovery amid labor disputes and operational challenges.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/boeing-stock-climbs-as-union-deal-appears-within-reach/">Boeing Stock Climbs as Union Deal Appears Within Reach</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Boeing Stock Climbs as Union Deal Appears Within Reach

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