By David Shepardson WASHINGTON (Reuters) -Boeing CEO Kelly Ortberg said on Thursday that employees furloughed during a seven-week strike by factory workers would be repaid by the company for lost wages, but it would proceed with plans to cut about 10% of its global workforce. Boeing furloughed thousands of salaried employees on a rolling basis […]
Members of the International Association of Machinists and Aerospace Workers District 751, embrace at a union hall after learning that union members voted to approve a new contract proposal from Boeing in Seattle, Washington, U.S. November 4, 2024. REUTERS/David Ryder Boeing machinists approved a new labor deal Monday, ending a more than seven-week strike that […]
Boeing is under federal scrutiny yet again, but this time it isn’t for midflight door malfunctions, faulty wheelsor makeshift lubricants. According to an audit released on October 29th by the Department of Defense, the beleaguered aircraft manufacturer allegedly up-charged the Air Force nearly 8,000 percent on spare soap dispensers for its fleet of C-17 cargo […]
Kelly Ortberg, who took over as Boeing CEO in August, is weighing the sale of the company’s space division as part of an attempt to turn things around, according to a report from The Wall Street Journal. The plans, which are reportedly at an early stage, could involve Boeing offloading the Starliner spacecraft and its […]
Sometimes, it’s worth noting when something goes unsaid. On Wednesday, Boeing’s new CEO, Kelly Ortberg, participated in his first quarterly conference call with investment analysts. Under fire from labor groups and regulators, Boeing logged a nearly $6.2 billion loss for the last three months, while the new boss pledged a turnaround for the troubled aerospace […]
Boeing workers in the Seattle region decisively rejected the company’s latest contract offer on Wednesday, extending the nearly six-week strike. Almost two-thirds (64 percent) of the members of the International Association of Machinists and Aerospace Workers District 751 rejected the contract, the union said on X. The latest Boeing offer had included a 35 percent […]
CNBC’s Jim Cramer on Wednesday explained why he thinks Boeing is a buy even though it posted a third-quarter loss of more than $6 billion, saying there simply aren’t many competitors who can manufacture aircraft at scale. “The worse Boeing’s financials might be, the better the buy, because as soon as this machinists strike is […]
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The union representing 33,000 striking Boeing machinists said on Saturday that it had reached a tentative agreement to end a month-long work stoppage that has crippled the plane maker. The International Association of Machinists and […]
People hold sings during a strike rally for the International Association of Machinists and Aerospace Workers (IAM) at the Seattle Union Hall in Seattle, Washington, on October 15, 2024. Jason Redmond | AFP | Getty Images Boeing and its machinists’ union have reached a new contract proposal, the union said Saturday, outlining a deal that could […]
With Wall Street rolling into the thick of earnings season, CNBC’s Jim Cramer on Friday told investors what market-moving action to keep an eye on next week, including reports from Boeing, Tesla, IBM and T-Mobile. He celebrated the market’s lengthy winning streak and suggested it could continue. “It’s hard to believe, but this market’s now […]
