Boeing machinists reject new contract, continuing costly walkout

Boeing machinists voted to reject a new labor contract proposal, extending a costly strike that has halted production of some of the company’s top-selling planes. The International Association of Machinists and Aerospace Workers announced that 64% of members voted against the deal, continuing the strike at all designated picket locations. The rejected offer included substantial raises, a ratification bonus, and increased retirement contributions, but did not restore a frozen pension plan. Boeing reported significant losses in the third quarter due to the strike and manufacturing issues, with the new CEO acknowledging the need to address trust and performance lapses within the company.