Boeing, union at strike impasse as company halts talks, withdraws pay offer
Al Jazeera
The strike will cost Boeing more than $1bn a month per estimates.
The nearly four-week-old strike between Boeing and its key manufacturing union are showing no signs of a breakthrough after talks broke down, with no new negotiations planned.
The United States-based plane maker on Tuesday withdrew its pay offer to about 33,000 US factory workers, saying the union did not consider its proposals seriously after two days of talks.
The breakdown compounds financial and production problems at Boeing, one of the two primary global commercial plane-makers, and adds to a years-long backlog of deliveries to air carriers reliant on Boeing.
The strike would cost Boeing more than $1bn a month, S&P Global Ratings estimated, while warning of a downgrade of its debt to junk territory. It has a $60bn debt load. “The strike puts Boeing’s recovery at risk,” S&P wrote late Tuesday.
The deadlock shows no signs of resolution, a person briefed on the talks said.
Here are the key developments on the 1,035th day of Russia’s invasion of Ukraine.
After Monday’s ratification of contested October elections, a new wave of protests is under way.
In 12 frames, people around the world – playing, celebrating, dancing and smiling – as we look back through 2024.
Embattled leader fails to appear for questioning over short-lived declaration of martial law for second time in a week.
Here are the key developments on the 1,035th day of Russia’s invasion of Ukraine.
Embattled leader fails to appear for questioning over short-lived declaration of martial law for second time in a week.
Here are the key developments on the 1,035th day of Russia’s invasion of Ukraine.
The EU has warned that Pakistan could be violating a trade deal. Without it, Pakistani exports could be hit 20 percent.
Embattled leader fails to appear for questioning over short-lived declaration of martial law for second time in a week.
Here are the key developments on the 1,035th day of Russia’s invasion of Ukraine.