Boeing Withdraws Contract Offer After Talks With Union End In Stalemate

Boeing

133.81 CHF -1.08%

• Charts
• News
• Analysen

Kaufen / Verkaufen

(RTTNews) - Boeing (BA) has withdrawn its contract offer for workers after negotiations with union representatives reached a stalemate.

Boeing said it withdrew its pay offer to around 33,000 members of the International Association of Machinists and Aerospace Workers (IAM), saying the union had not considered its proposals seriously after two days of talks.

"The union made non-negotiable demands far in excess of what can be accepted if we are to remain competitive as a business," Boeing Commercial Airplanes President Stephanie Pope said in a letter sent to employees.

"Given that position, further negotiations do not make sense at this point and our offer has been withdrawn."

However, IAM said Boeing was "hell-bent on standing on the non-negotiated offer" which it says was rejected by its members.

Last month, Boeing announced what it called its "best and final" offer to workers, which proposed a 30% rise over four years - lower than the 40% being demanded by the union.

Boeing said it made new and improved proposals to try and reach a compromise, including increases in take-home pay.

According to Reuters, Union lead negotiator Jon Holden said that Boeing offered some improvements related to minimum guarantees for an annual performance bonus but did not move on general demands for higher wages.

"They're trying to take credit for very minor, very meager movement that wasn't really touching on the major issues in a way that we could even get that in front of our members," said Holden, president of IAM District 751.