Boeing Union Strike To Pummel Workers And Shareholders, New Analysis Finds

The International Association of Machinists (IAM) union strike against Boeing is expected to result in a $1.05 billion loss for the company and its shareholders, as well as a significant loss for its workers and suppliers, according to an analysis by consulting firm Anderson Economic Group (AEG) released Thursday.

Boeing and company shareholders are set to lose an estimated $1.05 billion, with workers and suppliers losing $351 million from Sept. 13 to Friday due to the IAM union strike, according to AEG’s analysis of the company’s lost wages and shareholder earnings. The firm’s report does not estimate separate damages to consumers or customers for the first two weeks of the strike.

Thousands went on a midnight strike against Boeing on Sept. 13 after IAM leaders rejected a tentative agreement with Boeing. Boeing has been plagued with controversies this year, including problems stemming from various safety issues.

Boeing pled guilty to criminal fraud conspiracy charges in July and reached a plea deal to pay a $243.6 million fine over two fatal 737 MAX plane crashes that occurred in 2018 and 2019. Another harmful blow to the company’s reputation came when the Boeing Starliner