Boeing Workers Rally Amid Financial Turbulence

Boeing's workforce, embroiled in a major strike for over a month, is rallying for better wages. Amid demands for a 40% wage hike, Boeing has proposed a 30% increase. The situation has escalated financial pressures, resulting in looming layoffs and a risk of credit downgrades.

A major rally is set for Tuesday in Seattle as Boeing factory workers press the company for a better wage agreement. Spearheaded by the International Association of Machinists and Aerospace Workers (IAM), the demonstration involves around 33,000 striking employees, discontent since September 13, seeking a substantial 40% wage boost over four years.

The strike has halted production of Boeing's top models, exacerbating the financial strain on the company. Amidst ongoing negotiations, Boeing retracted its offer of a 30% increase following unsuccessful talks, which also involved federal mediators. This labor dispute has become mired in mutual accusations of unfair practices.

Compounding Boeing's woes, the company announced impending job cuts to brace for potential credit downgrades. As its stock prices continue to falter, high-level political support meets the workers' fervor as the outlook for Boeing's economic stability remains uncertain.

(With inputs from agencies.)