Boeing withdraws pay offer to striking workers as negotiations reach stalemate

Boeing (NYSE:BA) Tuesday evening said that it had withdrawn an offer to around 33,000 striking employees, noting the International Association of Machinists and Aerospace Workers did not seriously consider its proposal.
In a communication to employees, Boeing Commercial Airplanes CEO Stephanie Pope said that the union’s demands were “not negotiable” and additional negotiations “do not make sense at this point,” Reuters reported.
IAM confirmed that Boeing has withdrawn its Sept. 23 offer, adding that a poll of members found an overwhelming number were not happy with it.
The union is asking for a 40% pay raise over four years and the return of a defined-benefit pension plan. Boeing has offered a 30% raise plus a performance bonus.