From Investing.com: 2024-11-08 04:41:10

Boeing CEO Kelly Ortberg announced that employees furloughed during a strike will be repaid for lost wages, but the company will still cut 10% of its global workforce. The planemaker canceled unpaid leave after the strike ended, planning to cut 17,000 jobs. Morale is low as employees await news of their roles.

The Society of Professional Engineering Employees in Aerospace was informed that job loss notices would be issued on Nov. 15, following the ratification of a contract giving machinists a 38% pay raise and $12,000 bonus. Boeing workers are set to return by Nov. 12, with production of the 737 MAX resuming gradually under regulatory scrutiny.

Boeing has faced nearly $8 billion in losses this year due to a quality crisis. Ortberg stated that the company is making necessary changes to restore itself and meet customer commitments. Boeing recently raised $24 billion in fresh capital to stabilize finances and may sell assets as it focuses on core units.



Read more at Investing.com: Boeing to repay furloughed staff, proceed with job cuts By Reuters