Wed Sep 18 03:32:14 UTC 2024: ## Boeing and Union Resume Contract Talks Amidst Strike

**SEATTLE** – Boeing and the International Association of Machinists and Aerospace Workers (IAM) will restart contract talks on Wednesday, with federal mediators present. The negotiations come after a failed attempt to reach an agreement on key issues such as wages and pensions, which led to a strike by over 30,000 Boeing factory workers last Friday.

The union is demanding a 40% wage increase over four years, significantly higher than Boeing’s 25% offer, which was rejected by a large majority of workers. The strike, now in its sixth day, is the first for Boeing since 2008 and has halted production of its best-selling 737 MAX jets, along with its 777 and 767 widebody aircraft.

The IAM expressed frustration with Boeing’s lack of commitment to resolving the key issues during Tuesday’s mediation session, emphasizing the importance of wages and pensions in ending the strike. “The company doesn’t seem to be taking mediation seriously,” the union stated on X.

A prolonged strike could cost Boeing billions of dollars, potentially leading to a credit rating downgrade. The company has already announced a freeze on hiring and is considering temporary furloughs to cut costs. Boeing has also stopped placing orders for parts for most of its jet programs, except the 787 Dreamliner, impacting its suppliers.

Boeing shares have fallen by approximately 40% this year, reflecting the company’s ongoing struggles. The outcome of the contract negotiations and the duration of the strike remain uncertain.

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