Boeing-Wide Strike: Negotiations Resume Amid Financial Strain

Boeing and its largest union are resuming labor contract negotiations after over 30,000 factory workers went on strike. The strike is costing Boeing $100 million a day and has prompted measures to cut costs. The prolonged strike could severely impact the company's finances and credit rating.

Negotiations between Boeing and its largest union are set to resume Tuesday, following a strike by more than 30,000 Boeing factory workers.

The strike, initiated last Friday, is costing Boeing an estimated $100 million daily. Workers rejected Boeing's offer which included a 25% pay increase over four years but removed an annual performance bonus.

Federal mediators will join the initial talks, which primarily focus on setting future negotiation guidelines. Prolonged strikes could worsen Boeing's strained finances, threatening its credit rating, forcing the company to freeze hiring, and considering furloughs.

(With inputs from agencies.)