Boeing Co. Machinists Continue Strike On Third Day, May Last A Month

San Francisco, CA (AHN) - Boeing Co. suffer on the third day on Monday due its workers' strike as the members refuse to assemble airplanes and are expected to continue with it for a month.

With the production cut, the analysts are expecting $100M a day loss from Boeing's continous strike.

Boeing's almost 27,000 members had walked off the job at 3:01 a.m. Eastern Daylight Time on Saturday after two days of almost continuous talks failed to avoid the strike.

The International Association of Machinists (IAM) and Aerospace Workers said around 25,000 members in the Seattle area and another 2,250 in Oregon and Kansas participated in the strike.

The members were not satisfied with the proposed pay raises, health-care costs and lack of guaranteed job security in the new accord.

"The absence of job security language was a key reason why members rejected the company's earlier offer and it is why Boeing is now facing the second major strike in three years," Tom Buffenbarger, IAM's international president, said in a statement.

If the latest strike continues after 15 days, the workers would start getting $150 a week during their time on strike, which is very less compared to the typical pay of $27 an hour or about $56,000 a year for every worker, excluding overtime and bonuses.

During the two days of around-the-clock talks, the firm had offered the union members a raise of 11 percent of the total current pay, which will be given to every worker over the period of three years.

Boeing officials also offered additional bonuses and pension improvements by paying $34,000 and further benefits during that time.