A strike sign is seen in a Boeing worker's car as union members from the International Association of Machinists and Aerospace Workers District 751 arrive to vote on a new contract proposal at a union hall during an ongoing strike in Renton, Washington, U.S. October 23, 2024. REUTERS/David Ryder/ File Photo
A strike sign is seen in a Boeing worker's car as union members from the International Association of Machinists and Aerospace Workers District 751 arrive to vote on a new contract proposal at a union hall during an ongoing strike in Renton, Washington, U.S. October 23, 2024. REUTERS/David Ryder/ File Photo
Boeing workers from the International Association of Machinists and Aerospace Workers District 751 gather on a picket line near the entrance to a Boeing production facility on the day of a vote on a new contract proposal during an ongoing strike in Renton, Washington, U.S. October 23, 2024. REUTERS/David Ryder/ File Photo
Boeing workers from the International Association of Machinists and Aerospace Workers District 751 gather on a picket line near the entrance to a Boeing production facility on the day of a vote on a new contract proposal during an ongoing strike in Renton, Washington, U.S. October 23, 2024. REUTERS/David Ryder/ File Photo
A Boeing worker from the International Association of Machinists and Aerospace Workers District 751 arrives to vote on a new contract proposal at a union hall during an ongoing strike in Renton, Washington, U.S. October 23, 2024. REUTERS/David Ryder/ File Photo
A Boeing worker from the International Association of Machinists and Aerospace Workers District 751 arrives to vote on a new contract proposal at a union hall during an ongoing strike in Renton, Washington, U.S. October 23, 2024. REUTERS/David Ryder/ File Photo

Boeing shares fall 2.7% after workers reject latest labor offer

October 24th, 2024 | 09:00 AM BUSINESS Aerospace & Defense 1

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By Reuters

Boeing (BA.N) shares fell 2.7% in U.S. premarket trading on Thursday after about 33,000 striking workers voted to reject a new labor offer, deepening the crisis at the U.S. planemaker a day after it reported a $6 billion loss.

64% of the votes cast were against the labor agreement, which offered a 35% general wage increase over four years but no defined benefit pension plan, which was one of the workers' main demands.

The rejection means a strike, which has lasted for over five weeks, will continue, further impacting Boeing and its fragile supply chain as they were already reeling from a halt in production of the company's best-selling 737 MAX jets and its 777 and 767 widebodies.

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