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Boeing has withdrawn its pay rise offer to over 30,000 striking workers after negotiations with the International Association of Machinists and Aerospace Workers union reached an impasse. The union rejected Boeing’s proposed 30% wage increase over four years, calling for 40%. Boeing accused the union of making non-negotiable demands, while the IAM claims Boeing refused to negotiate. The strike began last month and has halted plane production, causing Boeing to suspend jobs. Analysts warn that if the walkout is prolonged, it could cost Boeing and its suppliers billions of dollars.

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00:00It's Benzinga, and here's what's on the block.
00:03Boeing has withdrawn its pay rise offer to over 30,000 striking workers after negotiations
00:08with the International Association of Machinists and Aerospace Workers Union reached an impasse.
00:13The union rejected Boeing's proposed 30 percent wage increase over four years, calling
00:18for 40 percent.
00:19Boeing accused the union of making non-negotiable demands, while the IAM claims Boeing refused
00:24to negotiate.
00:25The strike began last month and has halted plane production, causing Boeing to suspend
00:29jobs.
00:30Analysts warn that if the walkout is prolonged, it could cost Boeing and its suppliers billions
00:35of dollars.
00:36For all things money, visit Benzinga.com.

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