Thousands of union members began the first walkout at the company since 2008. Federal mediators said the company and the union would meet early next week.According to The New York Times, a large number of union members initiated a walkout at the company, marking the first strike since 2008. Federal mediators have announced that the company and the union will hold a meeting early next week. The strike was triggered after thousands of machinists and aerospace workers rejected a proposed contract that offered salary increases and benefits improvements, but did not meet the union’s initial demands. This strike could have significant financial consequences for Boeing, as it halts airplane production in the Seattle area and potentially disrupts the company’s supply chain. The White House has stated that it is monitoring the situation and a federal mediation service has scheduled talks between the company and the union. Boeing’s stock has already taken a hit and its debt rating is at risk. According to Boeing’s chief financial officer, the strike will have a negative impact on production, deliveries, and operations, and could jeopardize the company’s recovery. 

Source:Read More