EVERETT, Wash. — The strike by 33,000 Boeing machinists has entered its second month.
Economic experts estimated the company has lost more than $1 billion since the walkout began.
The strike, which started in September, has brought production to a standstill at Boeing's Seattle-area factories. Boeing, which has already lost more than $25 billion since 2019, burned through $1.3 billion in the third quarter, according to its preliminary financial reports.
The company announced plans to lay off 17,000 workers, approximately 10% of its workforce, and discontinue production of the cargo version of the 767 jet in 2027. The full financial report for the third quarter is expected to be released later.
The company continues to call the demands from the International Association of Machinists unrealistic and accused union leadership of spreading a misleading public narrative.
Union leaders remain resolute, insisting their demands are reasonable.
"Our members are demanding things that are important to them, and that's our job, to negotiate those," said Jon Holden, International Association of Machinists District 751 president.
Initially, IAM 751 asked for a 40% raise over three years and reinstatement of their pensions.
Boeing offered a 30% raise over four years along with more in the company 401K match, but withdrew that offer after the latest round of talks fell through.
Both sides blamed each other.
"We're ready to be here as long as it takes," said Edward Feetham, a striking machinist on the picket line. "We're not going to back down."
Many IAM members have told KING 5 that they prepared and saved money for a long strike. When asked, all have said the strike will only end when Boeing decides to meet their demands.