Workers picket outside the Boeing Co. manufacturing facility in Renton, Washington. Photographer: David Ryder/Bloomberg
Retirement plans are a major sticking point between Boeing and its union workers, now in the seventh week of a strike. The striking machinists want the world's largest aerospace manufacturer to bring back the traditional pension plan Boeing ditched a decade ago, as part of a deal with machinists to build its 777 jetliner in Washington.
Boeing, which replaced the pension with a 401(k) plan, has resisted attempts to restore the pension plan. "It does come down to potentially exploring other defined-benefit options, which we are willing to do," said International Association of Machinists and Aerospace Workers (IAM) President Joh Holden, at a press conference.
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