Following a labor agreement that would prevent a 32,000 worker walkout, Boeing celebrates a stock market rise
After the aircraft manufacturer and its largest union negotiated a tentative agreement covering over 32,000 workers, averting a potential strike, Boeing shares increased 3.7% on Monday.
After taking over as CEO barely a month ago, Kelly Ortberg’s first significant discussion was to move the struggling aircraft manufacturer ahead.
Investors praised the proposed four-year deal, which the union said to be the finest it had ever negotiated.
It is far from finalized, though.
Workers who produce the company’s best-selling 737 commercial airliner and other planes will cast their votes on September 12 and, should they reject the contract and back a work stoppage, they may go on strike as early as September 13.
