Overview

• The strike, affecting Boeing's Seattle and Portland plants, is the first since 2008 and involves 20% of the company's workforce.
• Union members rejected a proposed contract offering a 25% wage increase over four years, demanding instead a 40% raise and a return to the pension system.
• The work stoppage, which could cost Boeing up to $1 billion per week, comes amid the company's efforts to ramp up production and address safety concerns.
• Boeing's financial stability is at risk, with the company already $60 billion in debt and its stock price down 38% this year.
• Both Boeing and union leaders express willingness to return to the negotiating table to resolve the dispute.