Tag

Labor Strike

All articles tagged with #labor strike

business4 months ago

Boeing Defense Workers Near Resolution After Strike

Boeing has reached a tentative five-year labor agreement with striking defense workers, primarily in Missouri, who have been on strike since August over wages and signing bonuses. The union members will vote on the deal this Friday, with details yet to be disclosed. The strike, the first in nearly 30 years, involved over 3,000 workers assembling F-15 fighter jets and missile systems, and follows a previous strike by commercial aircraft unionized workers.

business1 year ago

Boeing Shares Surge as 737 MAX Production Resumes Post-Strike

Boeing shares rose after reports that the company resumed production of its 737 MAX aircraft following a seven-week halt due to a labor strike. The strike involved 33,000 workers and disrupted operations at a crucial time for Boeing, which has 4,200 outstanding orders for the 737 MAX. Production is currently capped at 38 planes per month due to FAA restrictions following a safety incident. Analysts predict Boeing will produce 29 planes monthly by 2025, facing challenges from supply chain issues and regulatory scrutiny.

business1 year ago

Boeing Workers Secure Major Wage Hike, End Strike

Boeing workers have ratified a new contract after a seven-week strike, securing a 43.65% wage increase over four years, a $12,000 ratification bonus, and improved benefits. The contract was approved by a 59%-41% vote, following the rejection of a previous offer. Union leaders and supporters, including Rep. Pramila Jayapal, praised the agreement as a significant victory for workers, emphasizing the importance of fair wages and benefits. The deal is seen as setting a new standard in the aerospace industry, highlighting the power of collective bargaining.

business1 year ago

Boeing Workers Secure New Contract, Ending Strike with Industry Impact

The International Association of Machinists and Aerospace Workers (IAM) union members at Boeing have ratified a new contract, achieving a 43.65% compounded wage increase over four years. This agreement, facilitated by U.S. Secretary of Labor Julie Su, follows a two-month strike and sets a new standard for the aerospace industry. The contract includes a $12,000 ratification bonus, improved retirement contributions, and enhanced job security provisions, marking a significant victory for the 33,000 frontline workers involved.

business1 year ago

Boeing Machinists Vote on Contract to Potentially End Strike

Boeing machinists, represented by IAM District 751, have voted on a new contract proposal aimed at ending a nearly two-month-long strike. The proposal includes a 38% wage increase, improved 401(k) contributions, and a $12,000 ratification bonus, but does not reinstate pension plans. Union leaders have urged acceptance of the offer, describing it as one of the strongest contracts in aerospace history. The strike has significantly impacted Boeing's production, with potential losses of $1 billion per month, and has drawn attention from political leaders urging a fair resolution.

business1 year ago

Ford's October Sales Surge 15% Amid Labor Strike Recovery

Ford Motor reported a 15.2% increase in U.S. vehicle sales in October 2024, recovering from subdued levels due to a union strike in 2023. The growth was driven by a 29.2% rise in truck sales, despite a decline in electric vehicle sales by 8.3%. Ford's market share increased to 12.6%, with hybrid vehicle sales up 38.5%. The company plans to pause production of its all-electric F-150 Lightning from mid-November to early January.

economy1 year ago

Nigeria Faces Power Outages and Airport Closures Amid Wage Protests

Nigeria's largest labor unions have initiated a strike demanding higher wages amid record inflation, leading to nationwide electricity cuts and the closure of major airports. The unions seek to raise the minimum monthly wage from 30,000 naira ($20) to nearly 500,000 naira ($336), a move the government argues could destabilize the economy. The strike has caused significant disruptions, including stranded passengers and halted government operations.

business1 year ago

Samsung Union Announces Historic Strike Amid Wage Dispute

The Nationwide Samsung Electronics Union (NSEU) has announced a one-day strike on June 7, marking the first-ever walkout at Samsung Electronics in South Korea. The strike follows unsuccessful negotiations over pay and bonus arrangements, with the union demanding transparent and fair performance bonuses and wage increases. Samsung has faced economic challenges recently but remains optimistic about future demand driven by AI and high-end chips.

labor-strike1 year ago

Seoul Bus Drivers' Strike Causes Commuter Chaos

Seoul's bus labor union went on strike after failing to reach an agreement on wage hikes, halting the operation of 97.6 percent of intracity buses. Last-minute negotiations ended without accepting the union's demand for a 12.7 percent increase in hourly wages, leading to the strike beginning at 4 a.m. The city government announced emergency plans to minimize commuter chaos, including adding more subway trains, extending operating hours, deploying personnel to major stations, and operating free shuttle buses from major subway stations across the capital's 25 districts.

businesslabor-relations1 year ago

"Anheuser-Busch Workers and Teamsters Reach Tentative Deal, Averting Brewery Strike"

The Teamsters and Anheuser-Busch have reached a tentative agreement on a contract, averting a potential strike by the union's 5,000 members at the company's 12 breweries across the U.S. The deal includes significant wage gains, job security protections, increased pension contributions, and the restoration of retirement benefits for current and retired members. Union members will vote on the contract, which offers an average wage increase of 23% over five years. This agreement comes amid a period of heightened labor activism in the U.S., with workers securing contracts with double-digit raises through strikes and threats.