FX.co ★ Boeing to meet workers’ claims to stop strike

Boeing boosted its stock price by 2% before markets even opened on Friday, giving investors a pleasant surprise. This uptick followed the American aviation giant’s decision to offer improved terms to its 33,000 striking employees. As reported by Reuters, Boeing hopes this offer will end the nearly endless strike.

Soon, workers will face a tough decision. They will vote on a proposal that would increase wages by 38% over four years instead of the more modest 35% previously offered. To sweeten the deal, Boeing is also offering a larger signing bonus. However, the company has refused to revive workers' pension plans with guaranteed payouts, which many employees still dream of. Opinions are split, and it is anyone’s guess how workers will vote.

Seven weeks without work is not a very pleasant experience, especially when it involves assembling the bestselling 737 MAX and the massive 767 and 777 models. The strike has already cost Boeing a hefty $6 billion in the third quarter. This issue has given the new CEO, Kelly Ortberg, a fresh headache as he attempts to get the company back on track.

Earlier this week, Boeing stoked market excitement even further by raising $21 billion through a sale of 112.5 million shares. Although this decision is really impressive, it seems that the workers want to see cash in their pockets, not just numbers on paper.