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 […]
Sign with logo at entrance to office of aerospace company Boeing. (Photo by Smith … [+] Collection/Gado/Getty Images) Getty Images In the last week, Boeing has taken two significant efforts to address its ongoing financial crisis amidst an ongoing strike of 33,000 workers from the International Association of Machinists (IAM). On Friday, CEO Kelly Ortberg […]
Boeing Machinists union members picket outside a Boeing factory on September 13, 2024 in Renton, Washington. Stephen Brashear | Getty Images It’s been just over a month since more than 30,000 Boeing machinists walked off the job after overwhelmingly voting down a tentative contract. Costs and tensions have only risen since then. The strike is […]
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Boeing’s withdrawal of its pay offer to striking workers has threatened to compound the financial woes of the US plane maker and heap more pressure on the industry’s stretched supply chain. With the strike of […]
Team, Our business is in a difficult position, and it is hard to overstate the challenges we face together. Beyond navigating our current environment, restoring our company requires tough decisions and we will have to make structural changes to ensure we can stay competitive and deliver for our customers over the long term. We need […]
Boeing 737 MAX airliners are pictured at the company’s factory in Renton, Washington, on Sept. 12, 2024. Stephen Brashear | AP Boeing will cut 10% of its workforce, or about 17,000 people, as the company’s losses mount and a machinist strike that has idled its aircraft factories enters its fifth week. It will also push […]
Boeing will axe its workforce by a tenth – cutting 17,000 jobs – and delay production as the airplane maker deals issues across its business. Chief executive Kelly Ortberg said in an email to staff that “executives, managers, and employees” jobs are all at risk. The business also warned of losses in its weapons and […]
