Boeing machinists reject new labor contract, extending more than 5-week strike

Boeing machinists have voted against a new labor deal that offered a 35% wage increase over four years, extending a strike that has halted most of the company’s aircraft production in the Seattle area. The rejection of the contract is a setback for Boeing, which is already facing financial challenges. The strike is costing the company about $1 billion a month and has led to a $6 billion quarterly loss. The union is pushing for higher pay amid rising living costs, with some workers upset about losing their pension plan in a previous contract. The strike has also impacted the aerospace supply chain, with suppliers facing potential layoffs or furloughs.