On October 24, 2024, Boeing workers on the West Coast of the United States voted to reject the company's latest contract offer, extending their strike that began nearly six weeks ago. Nearly two-thirds of the workforce turned down the proposal, which included a 35 percent wage increase over four years but did not reinstate a defined pension plan that many employees desired.
Jon Holden, President of IAM District 751, stated that although significant progress was made during negotiations, it was insufficient to meet the demands of the members. He emphasized the unity among workers, highlighting their collective strength and commitment to securing a favorable contract.
Approximately 33,000 workers have been on strike since mid-September, leading to halted operations at two Boeing factories in the Seattle area, which produce the 737 Max and 777 models. This industrial action has significantly impacted the company's cash flow from its aviation sector.
This development poses further challenges for Boeing, which has faced scrutiny over safety and quality concerns throughout the year. The company is currently under investigation by multiple agencies following a January incident involving a 737 Max operated by Alaska Airlines that lost a door panel mid-flight.
On the same day, Boeing reported a third-quarter loss exceeding $6 billion, contributing to a 1.76 percent decline in its stock price, which has already fallen nearly 38 percent this year.