Boeing has officially pulled the plug on its contract offer for 33,000 machinists who have been on strike since mid-September.
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00:00Boeing has officially pulled the plug on its contract offer for 33,000 machinists
00:06who've been on strike since mid-September declaring that further
00:10negotiations quote do not make sense at this point. The machinists walked off the
00:15job on September 13th after overwhelmingly rejecting a tentative
00:19labor deal bringing production of most of Boeing's aircraft to a standstill. In
00:24an attempt to sweeten the deal Boeing later increased pay raises added a
00:28ratification bonus and offered other improvements but the union shot down the
00:33proposal claiming it hadn't been properly negotiated. Talks broke down
00:38again this week meaning the strike will continue and could cost Boeing more than
00:421 billion dollars each month according to S&P Global Ratings.