The strike, which started on Friday at midnight Pacific time, is a major development in the ongoing labour dispute between Boeing and the International Association of Machinists and Aerospace Workers (IAM), the company’s largest union.
About 30,000 workers who manufacture Boeing’s 737 MAX and other aircraft in the Portland and Seattle regions were affected by the walkout.
This walkout, which is their first since 2008, occurred at a crucial time for Boeing, which is battling persistent production delays, growing debt, and increased scrutiny over safety issues.
“This strike is about respect, addressing past grievances, and fighting for our future,” stated Jon Holden, the IAM negotiator.
The tentative agreement agreed with Boeing, which included a 25% overall wage rise, a $3,000 signing bonus, and a promise to build Boeing’s next commercial jet in the Seattle area, had been met with displeasure from the workforce.
Many employees, however, believed that the offer fell short of their requests, which included the return of an annual bonus and a 40% wage increase.
“We remain committed to resetting our relationship with our employees and the union, and we are ready to get back to the table to reach a new agreement,” Boeing said in response to the announcement of the strike.
The company’s shares have fallen 36% this year owing to worries about safety, output, and a $60 billion debt load, although they finished up 0.9% on Thursday before the voting results were made public.
It is unclear how the strike would affect Boeing’s business practices and the larger aviation sector.
One thing is certain, though: the workers have made it quite obvious that they will no longer put up with inadequate pay and working conditions.
All eyes would be on Boeing and IAM as the strike got underway to see how soon they could work out their differences and resume production.