Boeing has withdrawn its pay offer to striking machinists as negotiations between the aircraft maker and union members stall and the company’s debt teeters on the edge of a junk rating.
“Our team bargained in good faith,” Stephanie Pope, chief executive of Boeing Commercial Airplanes, wrote to employees in a letter released late on Tuesday. “Unfortunately, the union did not seriously consider our proposals.”
The International Association of Machinists and Aerospace Workers District 751 said in an update on its website that Boeing was “hell-bent” on sticking to its now-rescinded offer made on September 23.
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