FOX Business host Stuart Varney discusses shares of Boeing and Chipotle during the opening bell.
about 2500 Boeing employees The strike is expected to begin August 1 at three plants in the St. Louis area after talks broke down between the company, the International Machinists’ Association and Space Workers District 837, the union announced.
“We cannot accept an unfair and equitable contract, as this company continues to make billions of dollars each year on the backs of our hard-working members,” the union said in a statement on Sunday.
“We stand in solidarity across the United States and will use the power of combat mechanics to bring home our contract that allows us to build and produce some best military aircraft and weapons in the world, and enables us to take care of our families.”
Employees work on the assembly line of the Boeing F-15 Strike Eagle fighter jet at the Boeing Defense, Space, and Security facility in St. Louis, Missouri. (Alex Flynn/Bloomberg via Getty Images/Getty Images)
the Union He argued that Boeing “rejected all proposals for a pension,” refused to “compensate our 401(k) members appropriately,” and rejected multiple proposals for a wage advance rate.
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Boeing offered a Match dollar to dollar on 10% of the base An incentive pay per employee 401(k), according to the company.
“Boeing is disappointed with Sunday’s vote to reject a very strong and competitive bid,” a Boeing spokesperson told Fox Business Network on Sunday. “We are deploying our contingency plan to support continued operations in the event of a strike,” he added.
The Boeing logo appears above a mall on the floor of the New York Stock Exchange before the opening bell. ((AP Photo / Richard Drew) / AP Newsroom)
The facilities to be hit are located in St. Louis, St. Charles, Missouri, and Muskota, Illinois. They produce various military aircraft, including the F-15, F-18 and MQ-25 Stingray, according to the union.
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Boeing shares are down about 23.9% since the start of the year. company It recorded a net loss of $1.2 billion During the first quarter of 2022, compared to $561 million during the same period a year ago.