Boeing announced a massive $19 billion stock offering as it battles ongoing production delays and a costly strike. The move comes as the company faces financial pressure and attempts to stabilize its operations.
Results for: Machinists Strike
Boeing announced a massive $19 billion stock offering as it battles ongoing production delays and a costly strike. The move comes as the company faces financial pressure and attempts to stabilize its operations.
Boeing has implemented temporary furloughs for thousands of employees due to a strike by the International Association of Machinists and Aerospace Workers. The strike, which began after workers rejected Boeing’s offer of a 25% wage increase, could cost the company $1 billion per week. The furloughs, affecting executives, managers, and employees, are intended to conserve cash and ensure Boeing’s recovery. Negotiations with the union are ongoing, but the demand for a 40% wage hike adds complexity to the situation.