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Boeing workers are currently voting on a new labor contract that could potentially lead to a strike, risking the struggling plane-maker’s recovery, according to the company’s CEO. The tentative agreement, which includes 25% wage increases and improved benefits, may face dissent from some workers seeking higher pay due to increasing living costs in the Seattle area.
CEO Kelly Ortberg, in his early days in the role, is working to stabilize aircraft production and address safety issues following earlier incidents. The potential impact of a strike on Boeing’s finances and supply chain stability has been estimated by analysts.
The union representing around 33,000 Boeing factory workers has been pushing for significant pay raises, and the current agreement mirrors deals made in other industries. If approved, this would be the first negotiated contract between Boeing and its workers in 16 years.
Top pay for Boeing workers is set to increase, but rejection of the deal could lead to a strike if two-thirds of workers vote in favor. Ortberg emphasized the importance of reaching an agreement to secure the company’s future and avoid disruptions to its recovery efforts.
Polls for the vote are closing soon, with implications for both the company and its employees’ future.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.
