Boeing Co. (NYSE: BA) lost a round in its effort to settle labor issues with its engineers. The Society of Professional Engineering Employees in Aerospace said that more than nine in 10 of its members who voted on a four-year deal voted no.
The Wall Street Journal reports:
The contract guaranteed wage increases of 2.5% – 3.5% over each of the contract’s four years. But the union says the offer wouldn’t keep pace with inflation, and it reduces medical and retirement benefits. Boeing called the offer “competitive” and “market-leading.”
Boeing still has a little time to come to an agreement. The workers cannot strike until November. Boeing management must remember that a similar fight with unions slowed the production of its troubled 787 Dreamliner.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.