Boeing Engineers Union Rejects Contract, Authorizes Strike Action

(RTTNews) - Boeing's engineers union rejected a proposed labor agreement and authorized strike action, signaling a tense period ahead for the company as it works through certification milestones on key aircraft programs.

The Society of Professional Engineering Employees in Aerospace (SPEEA) announced that both professional and technical unit members voted against the contract terms and granted approval for strike authorization.

Union leaders said they will now conduct a survey of members to identify the specific improvements needed in order for a revised proposal to gain support. The results will guide the next phase of negotiations with Boeing.

Shares of Boeing closed Friday's regular trading at $214.20 down $0.90 or 0.42% on the NYSE.