Tag: Boeing
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Boeing machinists reject new labor contract, extending strike
Boeing machinists voted 64% against a new labor deal that included 35% wage increases over four years, their union said Wednesday, extending a more than five-week strike that has halted most of the company’s aircraft production, which is centered in the Seattle area. The rejection is another major setback for the company, which warned earlier Wednesday that it would…
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New Boeing CEO to give clues on company’s future, while striking workers vote on new contract
Boeing has already braced investors for a rough quarterly report. Now, new CEO Kelly Ortberg has the chance to share his vision for the troubled manufacturer, from a potential strike-ending labor agreement to a slimmed-down future. When he takes the mic for his first earnings call as Boeing’s CEO on Wednesday, more than 32,000 striking machinists will start voting on a…
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Boeing workers to vote on new proposal that could end strike
Boeing and its machinists’ union have reached a new contract proposal, the union said Saturday, a deal that could end a more than month-long strike that has hobbled the manufacturers’ production. The ratification vote is set for Wednesday. Acting U.S. Secretary of Labor Julie Su met with both parties earlier this week. “With the help of Acting U.S.…
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Spirit AeroSystems to furlough 700 workers as Boeing machinist strike continues
Boeing supplier Spirit AeroSystems will furlough some 700 workers as a strike by machinists at the plane maker enters its sixth week, a spokesman for the supplier said Friday. More than 32,000 Boeing workers walked off the job Sept. 13 after overwhelmingly rejecting a tentative labor deal with Boeing, deepening the aircraft producer’s financial strain and handing a new challenge to CEO Kelly…
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Boeing strike enters second month as workers rally in Seattle
SEATTLE — Boeing factory workers held a large rally in Seattle on Tuesday to demand a better wage deal, mounting pressure on new CEO Kelly Ortberg to end a bitter strike that has plunged the planemaker further into financial crisis. Hundreds of striking workers packed the main hall at their union’s headquarters chanting “Pension! Pension! Pension!” and “One…
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Boeing to raise as much as $25 billion to shore up balance sheet
Boeing said Tuesday that it could raise as much as $25 billion in shares or debt over three years, a move to increase liquidity as the troubled manufacturer faces a more than monthlong machinist strike and problems throughout its aircraft programs. “This universal shelf registration provides flexibility for the company to seek a variety of capital options as…
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Boeing prepares layoff notices for thousands of workers as turmoil deepens
Thousands of Boeing staff will get layoff notices within weeks, a union and industry sources said, as a senior U.S. official flew to Seattle to try to ease a crippling strike and a major airline issued a warning over the planemaker’s deepening turmoil. Acting U.S. Labor Secretary Julie Su’s first in-person intervention comes days after…
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Boeing factory strike crosses 1-month mark as pressure mounts on new CEO
It’s been just over a month since more than 30,000 Boeing machinists walked off the job after overwhelmingly voting down a tentative contract. Costs and tensions have only risen since then. The strike is adding to pressure on Boeing’s new CEO, Kelly Ortberg, who was brought in over the summer to solve the plane maker’s various troubles. The strike, which S&P…
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Boeing to cut 17,000 jobs as losses deepen during factory strike
Boeing will cut 10% of its workforce, or about 17,000 people, as the company’s losses mount and a machinist strike that has idled its aircraft factories enters its fifth week. Boeing expects to report a loss of an $9.97 a share in the third quarter, the company said in a surprise release on Friday. It took charges in…
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Boeing withdraws contract offer after talks with union end without a deal
Boeing withdrew a contract offer for 33,000 machinists who have been on strike since mid-September, and said further negotiations “do not make sense at this point.” The machinists walked off the job on Sept. 13 after overwhelmingly rejecting a tentative labor deal, halting production of most of Boeing’s aircraft, which are made in the Puget Sound…