Boeing Stock Slips After SPEEA Rejects Proposed Contract

The Society of Professional Engineering Employees in Aerospace (SPEEA) voted down Boeing's proposed contract by a wide margin, with roughly 64% of the engineering unit and about 72% of the technical unit rejecting it. The negotiating team had endorsed the contract, but neither of the bargaining unit councils got behind it.

The vote to authorize a strike has been approved, which could take place as early as October 7. Boeing immediately responded by redirecting funds from SPEEA workforce investment into 'preparations for a possible work stoppage.'

Boeing's decision may also have consequences for United Airlines, which ordered hundreds of lie-flat seats for the 737 MAX 10 several years ago. However, with the aircraft potentially delayed due to an SPEEA strike, United is left wondering what to do with these seats.