Boeing's stock was headed for a nice bounce Monday, as the tentative agreement reached with the International Association of Machinists District 751 removed one of the headwinds the aerospace giant has been facing.
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Boeing reached a tentative deal with over 30,000 union workers. It includes a commitment to build Boeing's next airplane in the Seattle area.
Aerospace firm Boeing has a tentative agreement with a union representing some 33,000 workers in the Pacific Northwest. It's a win for the new CEO.
Boeing (BA) shares jumped in premarket trading Monday, a day after the plane maker announced a tentative agreement with two of its largest labor union partners.
Boeing Co (NYSE:BA, ETR:BCO) has offered some 32,000 staff a 25% pay increase in a bid to avert strikes as early as this month. A tentative agreement has been reached with workers in the US Pacific Northwest, Boeing said Sunday, which will also see its next commercial aircraft built in the Seattle area.
Boeing shares rose 3% in U.S. premarket trading on Monday after the planemaker reached a tentative deal with a union in the U.S. Pacific Northwest that could avoid a possible crippling strike later this week.
Boeing and its largest union are entering the last week of contract negotiations before a threatened strike by more than 30,000 workers who build the planes that carry millions of airline passengers every year.
Boeing has, in recent months, been mired in controversy over product safety and working conditions. On Sunday, the company announced a labor agreement with its union that included a 25% wage increase.
This morning Boeing and the International Association of Machinists District 751 and Aerospace Workers District 24 (IAM) reached a tentative agreement for a future contract.
Boeing reached a tentative agreement with a workers' union representing more than 33,000 employees, potentially averting a disruptive strike later this week—avoiding more issues for the aerospace company, which has faced a tumultuous few years.
Boeing BA -2.79%decrease; red down pointing triangle agreed to increase wages by 25% for its largest union in a four-year pact aimed at preventing a crippling strike.