Striking union holds indirect discussions with Boeing about deal, helped by US government
Adds no immediate Boeing, Labor Department comments, more details in paragraphs 4-8
By David Shepardson
Oct 18 (Reuters) -A union representing striking machinists at Boeing BA.N said on Friday it is "actively engaged in indirect discussions" with the planemaker that are being facilitated by Acting U.S. Labor Secretary Julie Su.
"We are fully committed to these talks. It is our responsibility to attempt to reach a resolution," said the International Association of Machinists and Aerospace Workers Local 751 in a social media post.
Around 33,000 of Boeing's unionized West Coast workers, most in Washington state, have been on strike since Sept. 13, demanding a 40% wage increase spread over four years and halting production of the planemaker's best-selling 737 MAX and its 767 and 777 widebodies.
The talks are the first sign of movement in the more than one-month-old strike since Boeing on Oct. 8 withdrew its latest offer that included a 30% wage increase over four years, after talks also attended by federal mediators broke down. Boeing subsequently filed an unfair labor practice charge against the union.
Boeing declined immediate comment on Friday.
Last Friday, Boeing announced it would cut 17,000 jobs, or 10% of its global staff and take $5 billion in charges, continuing a year of tumult for the company.
Boeing announced a window for up to $25 billion in stock and debt offerings over the next three years on Tuesday, as well as a $10-billion credit agreement.
On Monday, Su was in Seattle for her first in-person effort to help reach a deal. A spokesperson for Su declined comment on Friday.
In September, nearly 95% of the West Coast workers rejected Boeing's contract offer of a 25% pay rise over four years, prompting the strike.
Reporting by David Shepardson; Editing by Rod Nickel
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
