Oct 10, V7N- The lead negotiator for a union representing 33,000 striking Boeing workers, Jon Holden, stated on Wednesday that members are prepared to wait out the planemaker after pay talks collapsed the previous day. The strike, which began on September 13, is costing Boeing an estimated $1 billion a month, according to S&P. The dispute centers around wage demands, with the union seeking a 40% raise over four years, compared to Boeing's last offer of a 30% raise, which the union deemed insufficient.

Holden expressed frustration, saying Boeing offered only minor improvements before walking away from negotiations. Boeing, which has been facing cash flow challenges due to production setbacks, described the union's demands as "non-negotiable." While Boeing has withdrawn its latest offer, Holden emphasized that members are committed to continuing the strike, with the union's strike fund supporting workers with $250 a week.

As the standoff continues, Boeing is exploring options to raise capital, potentially through stock sales, and has furloughed thousands of salaried employees to mitigate the financial impact.

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