Sunday, February 9, 2025
spot_imgspot_img

Top 5 This Week

spot_imgspot_img

Related Posts

I am capable of enduring as long as necessary


Cash-strapped Boeing is facing mounting costs from an ongoing machinist strike as workers demand higher pay. Workers are taking side jobs to make ends meet during the strike, which has entered its second week. Boeing could face financial consequences if the strike continues for an extended period, potentially leading to a downgrade by ratings agencies and increased borrowing costs.

The strike is costing Boeing an estimated $50 million a day and has halted production of most aircraft, impacting the company’s network of suppliers as well. Boeing’s CEO Kelly Ortberg is trying to restore the company’s reputation amid manufacturing crises and financial struggles.

Boeing and the union are at a standstill in negotiations, with workers seeking wage increases closer to 40% and the restoration of pensions lost over a decade ago. The Biden administration has encouraged both parties to reach a resolution. The strike is the latest in a series of labor battles in recent years, reflecting a tight labor market in the aerospace industry.

Boeing is facing challenges in recruiting and retaining skilled workers, especially after shedding jobs during the pandemic. Suppliers warn that furloughing or laying off workers could lead to long-term problems due to the technical nature of the work and the difficulty in training new employees. The outcome of the strike will have significant implications for Boeing’s financial health and reputation in the industry.

Photo credit
www.nbcnews.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Popular Articles