Boeing Stock Climbs As Company Sweetens Labor Deal: What You Need To Know
Portfolio Pulse from Adam Eckert
Boeing's stock rose as the company proposed a new labor deal to its striking machinist union workers, offering a 30% pay increase over four years and other benefits. The proposal aims to end a costly strike, but does not address pension restoration.
September 23, 2024 | 10:30 pm
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Boeing's stock increased by 1.96% after the company proposed a new labor deal to its machinist union workers, aiming to end a strike. The deal includes a 30% pay raise over four years, a doubled ratification bonus, and increased retirement contributions.
The new labor deal proposal by Boeing is a significant step towards resolving the strike, which has been financially detrimental to the company. The stock's rise reflects investor optimism that the deal will be accepted, potentially ending the costly strike.
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