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
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.