Transportation
Boeing Withdraws Contract Offer as Union Talks Break Down
- Union says no progress made on wage offer, pension demands
- Near monthlong strike has put Boeing’s finances under strain
This article is for subscribers only.
The crisis engulfing Boeing Co. took a dramatic turn after negotiations to resolve an almost monthlong strike collapsed and S&P Global Ratings warned it may cut the planemaker’s credit grade to junk.
Both the embattled company and the International Association of Machinists and Aerospace Workers blamed each other for the impasse. Boeing said the union made “non-negotiable demands,” while the IAM said the company was “hell-bent on standing on the non-negotiated offer.”