Factory Workers' Strike: Boeing's Offer Rejected, Talks Stalemate

Boeing has withdrawn its pay offer to approximately 33,000 U.S. factory workers as a strike enters its fourth week. Negotiations between Boeing and the union broke down without resolution, prompting Boeing to consider financial measures, while workers demand a 40% pay hike and pension restoration.

Boeing announced Tuesday it retracted its pay offer to 33,000 U.S. factory workers, as negotiations with their union remain at a standstill and a costly strike extends into its fourth week.

Despite intervention from federal mediators, talks held on Monday and Tuesday failed, with both parties firmly entrenched in opposing positions. Boeing's head of commercial airplanes, Stephanie Pope, criticized the union for not seriously considering the company's proposals, labeling their demands as 'non-negotiable'.

As Boeing's stocks dipped 1.5% in response, the company explores options to raise capital through stock sales. Employees seek a 40% wage increase and pension reinstatement after rejecting a 25% offer, prompting Boeing's final offer of a 30% raise and performance bonus—still falling short of union expectations.

(With inputs from agencies.)