Boeing has restarted production of all its aircraft programs following a seven-week strike by 33,000 machinists. The strike significantly impacted November deliveries, with only 13 jets delivered compared to 56 the previous year. Boeing recently announced 17,000 layoffs to stabilize its financial position. The FAA will increase oversight as production resumes.
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.
