Boeing's Final Offer Rejected by Union.

Boeing workers are on strike after rejecting a contract offer, but the company insists that its latest proposal is a "best and final offer" and demands a ratification vote by the end of the week. The union, however, has refused to vote, claiming that the offer is insufficient and that Boeing's actions are disrespectful to the bargaining process.

The company's new offer includes significant pay raises, totaling 30% over four years, and a doubled ratification bonus of $6,000. It also maintains annual bonuses based on productivity, a point of contention in the previous contract. Despite these concessions, the union remains unconvinced and will conduct a survey of its members to gauge their sentiment.

Boeing argues that the new offer addresses concerns expressed by the union and its employees, and would raise average annual pay for machinists from $75,608 to $111,155. However, the offer does not reinstate a traditional pension plan, a key issue for striking workers who cited pay and pensions as reasons for rejecting the previous offer.

The strike is already impacting Boeing's cash flow, as production of several popular aircraft models has been halted. The company has implemented temporary rolling furloughs for non-union employees and announced a hiring freeze, business travel reduction, and decreased spending on suppliers. These measures aim to mitigate the financial strain caused by the ongoing strike.

The union, representing factory workers who assemble some of Boeing's most sought-after planes, is facing financial pressure to return to work. They have received their final paychecks and will lose company-provided health insurance at the end of the month. The outcome of this strike remains uncertain, with both sides locked in a stalemate. The potential for a prolonged strike looms, raising concerns about the long-term impact on Boeing's operations and the livelihoods of its employees.