From CNBC: 2024-09-13 16:04:00

Workers at Boeing, led by the International Association of Machinists, rejected a labor contract and initiated a strike, impacting aircraft deliveries and risking the company’s recovery. Boeing CFO Brian West emphasized the necessity of reaching a new agreement to protect production of its best-selling planes, including the 737 Max. Shares fell due to Moody’s review for a downgrade and the risk of increased borrowing costs. The strike poses a financial challenge but is seen as necessary by laborers for fair wages. The possibility of a downgrade looms over Boeing due to the strike, causing concern for financial repercussions and production delays.



Read more at CNBC: Strike will ‘jeopardize’ recovery, hurt aircraft production