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Boeing working to conserve cash as 33,000 factory workers go on strike

02:07

Boeing workers have gone on a strike in the Pacific Northwest to oppose a proposed contract that would have raised their wages by 25 percent over four years.

The strike by 33,000 machinists will not have an instant impact on flights, but it is expected to shut down Boeing's best-selling jetliners' productions. This marks yet another setback for a company already dealing with billions of dollars in financial losses and a damaged reputation. The strike started soon after a regional branch of the International Association of Machinists and Aerospace Workers voted on Thursday with 94.6 percent of participating members rejecting the contract offer that the union's own bargaining committee had endorsed, and 96 percent voting in favor of a strike.

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