SoylentNews is people
SoylentNews
Boeing Slashes 10% Of Workforce, CEO Warns "Hard To Overstate The Challenges We Face":
In what some have called a panic/desperation negotiating tactic, Boeing has announced (late on a Friday afternoon) that it will slash its workforce by 10% as the pummeled planemaker struggles with a cash-crunch amid a drawn-out strike and ongoing quality control (to put it nicely) issues.
"Our business is in a difficult position, and it is hard to overstate the challenges we face together."
Boeing ended 2023 with 171,000 employees.
The company said it expects to report third quarter revenue of $17.8 billion, and a loss per share of $9.97, according to preliminary figures.
The company unveiled the measures and the earnings figures as it seeks to get its negotiations with labor unions back on track.
Boeing has made two offers for higher wages, both of which were turned down by workers.
About 33,000 employees at its main Seattle-area facilities have been on strike for a month now, devastating production and draining Boeing's reserves.
The latest talks collapsed earlier this week, with no clear path when and how they might resume.
Boeing shares tumbled after hours, erasing the day's gains...
Ortberg also said the company has notified customers that the first deliveries of the 777X are now expected in 2026, citing the ongoing work stoppage and flight test pause.
(Score: 1, Touché) by Anonymous Coward on Tuesday October 15, @06:29PM
no, you worthless piece of shit, you brought religion into the discussion [soylentnews.org], asshole.
Tits on a bull, that's you.