Boeing at "crossroads" as strike hits and losses rise

Published On Oct 23, 2024, 10:31 AM

Boeing, under new CEO Kelly Ortberg, is facing severe challenges as losses have risen to approximately $6 billion, exacerbated by a prolonged strike of over 30,000 workers. The strike halted production, leading to significant operational losses, particularly within the commercial aircraft and defense sectors. Ortberg is attempting to stabilize the company amidst concerns over its debt load and declining reputation due to manufacturing and safety issues. A vote on a proposed pay raise for workers is imminent, which could impact the company's future if not approved. Boeing has a substantial backlog of orders, but restarting operations post-strike is expected to be challenging.