Boeing faces possible strike as workers prepare to hold key vote on contract deal By Investing.com

Investing.com — Boeing (NYSE: reject a provisional employment agreement.

The company previously reached a tentative agreement for a 25 percent pay raise and a $3,000 signing bonus, along with a commitment to build a new plane in the Pacific Northwest, better retirement benefits and an increase in the union’s contribution to aircraft quality.

However, employees in the states of Washington and Oregon, who are represented by the International Machinists Association District 751, may reject the deal on Thursday, according to media reports. The workers are reportedly demanding bigger wage increases and other improvements to the deal.

Speaking to Reuters, the union’s chief negotiator, Jon Holden, said workers were “angry” about “many of the issues they care deeply about”.

If they choose to vote against the deal, workers would then hold a second ballot to decide whether to strike.

A job action would increase scrutiny of Boeing’s new chief executive, Kelly Ortberg, who is currently trying to improve Boeing’s finances and rebuild its reputation after a dangerous mid-air hatch breach in January. Ortberg warned workers that a strike would “jeopardize” that recovery, according to a staff message cited by multiple media sources.

“I ask that you not sacrifice the opportunity to secure our future together because of past frustrations,” Ortberg added, reports said.

A 50-day strike could hurt Boeing’s cash flow by $3 billion to $3.5 billion, according to TD Cowen analysts. A previous strike in 2008 resulted in revenue losses estimated at $100 million a day.

Reuters contributed to this report.