Boeing’s 2024 labor strike continues as the company and a key union didn’t make any progress negotiating on Friday. Retirement benefits are a sticking point.

It will likely come as no surprise that aerospace stock Boeing Co. ($BA) continues to face down a strike after a machinist union rebuffed

Boeing's union has the aerospace company over a barrel. Boeing can afford to raise wages but only at the cost of a big cut in profits.

The machinists' union announced that discussions to resolve the machinists strike “broke off” without further agreement after the mediated meeting.

The International Association of Machinists and Aerospace Workers (IAM) said late on Friday that its pay deal talks with Boeing had broken off and that there were no further dates scheduled for negotiations at this time.

Amid a union strike over a pay dispute, Boeing has made what it describes as its "best and final offer" to roughly 33,000 striking union machinists, intensifying efforts to end the strike, which has entered its second week.

Boeing Co.’s largest union said talks with the planemaker have broken off as the two sides failed to reach a deal to potentially resolve a debilitating strike.

The union for striking Boeing workers said Friday that talks with the aviation giant "broke off" without agreement, after some 33,000 US employees walked out this month.