IAM and Boeing Pay Deal Talks Break Off

(Reuters) – The International Association of Machinists and Aerospace Workers (IAM) announced late Friday that negotiations over a pay deal with Boeing (NYSE:BA) have stalled, with no further dates scheduled.

“We remain open to talks with the company, either direct or mediated,” IAM commented in a post on X.

Boeing reiterated its commitment to improving relations with its represented employees and expressed a desire to “reach an agreement as soon as possible,” according to a company spokesperson via email. “We are prepared to meet at any time.”

More than 32,000 Boeing workers in the Seattle area and Portland, Oregon, initiated a strike on September 13, marking the union’s first strike since 2008, suspending production of models including Boeing’s best-selling 737 MAX.

The union is advocating for a 40% pay increase and the reinstatement of a defined-benefit pension previously removed from contracts a decade ago.

Boeing presented an improved offer to striking workers on Monday, labeling it their “best and final.” This offer included a 30% raise over four years and reinstated a performance bonus, but the union reported that a member survey indicated this proposal was insufficient.