Boeing machinists vote down contract proposal, strike continues

Boeing is facing significant challenges as union members reject the latest contract offer, primarily due to the absence of pension plans. The ongoing strike has halted production, exacerbating Boeing's financial woes, which include a $6 billion loss in the third quarter. The union, representing 33,000 workers, remains firm in its demands, while Boeing's CEO acknowledges the need to rebuild trust and address the company's debt. The pension issue, a key sticking point, is seen as crucial by workers who have witnessed previous generations retire with such benefits. The outcome of these negotiations remains uncertain, with potential adjustments to 401K contributions being considered.

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