**Work Stoppage Continues as Boeing and Union Fail to Reach Agreement**

Negotiations between Boeing Co. and its largest union have resulted in a stalemate as discussions over pensions and pay demands failed to yield an agreement, further prolonging a damaging strike. The International Association of Machinists and Aerospace Workers (IAM) reported on Friday evening that the company did not make any headway on pension issues and refused to seriously address demands for higher pay and faster wage progression. As it stands, no further discussions have been scheduled.

The dispute has involved around 33,000 union members, who have been striking since September 13. This industrial action has halted operations at Boeing's factories near Seattle, including those producing the critical 737 Max jetliners.

Despite the breakdown in talks, Boeing reaffirmed its dedication to finding a resolution. "We remain committed to resetting our relationship with our represented employees and negotiating in good faith, and want to reach an agreement as soon as possible," the company stated, expressing its willingness to re-enter negotiations at any time.

The recent stalled talks were the second round overseen by a federal mediator, a move that initially indicated possible progress. However, tensions flared when IAM District 751 negotiators rejected a direct offer of a 30% wage increase made by Boeing to the workers, bypassing the traditional negotiating process and igniting union leaders' ire. This proposal was never put to a vote.

The union has reiterated its demand for the reinstatement of a defined benefit pension plan, but Boeing has remained steadfast in its refusal to unfreeze the pension. "We remain open to talks with the company, either direct or mediated," IAM stated.

The ongoing strike is reportedly costing Boeing approximately $100 million each day, compounding the financial strain on the company. In response, Boeing has implemented a variety of cost-saving measures, including furloughs, a hiring freeze, and reductions in corporate travel.

Finding a resolution is crucial for Boeing to mitigate further financial damage. The company's credit ratings are nearing junk status, and it is rapidly consuming cash. Successfully negotiating an end to the strike would be a significant accomplishment for Kelly Ortberg, who took on the role of CEO last month with a directive to steer the company out of its current crisis, which began with a major incident involving a 737 Max in January. This led to several revelations about quality control issues and subsequent investigations by U.S. regulators and prosecutors.