Boeing (BA) Wednesday said, despite engineers' approval for the contract, the technical employees rejected the company's offer and called upon a strike.
The company believes that its proposal to move future hires to an enhanced 401k-style retirement plan is important, as it has repeatedly emphasized over the course of these negotiations.
"The realities of the market require us to make changes so we can invest in new products and keep winning in this competitive environment, which will allow us to continue to provide a solid future for our team, " said Ray Conner, president and CEO, Boeing Commercial Airplanes.
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