November 18, 20240 Comments

Boeing to lay off over 2,200 workers in US states of Washington and Oregon By Reuters

By Dan Catchpole, Allison Lampert (Reuters) -Boeing will lay off more than 2,200 workers in the U.S. states of Washington and Oregon, according to filings posted on Monday, as part of the debt-heavy U.S. planemaker’s plan to cut 17,000 jobs, or 10% of its global workforce.  The aerospace giant started telling affected U.S. workers on Wednesday that they will stay on Boeing (NYSE:)’s payroll until Jan. 17, to comply with

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November 12, 20240 Comments

Boeing factory production will take weeks to ramp up after strike

An employee works in the cockpit of a Boeing P-8 Poseidon maritime patrol aircraft on the production line at Boeing’s 737 factory in Renton, Washington, November 18, 2021. Jason Redmond | Reuters Boeing‘s more than 32,000 machinists who were on strike are required to return to their factories no later than Tuesday, but getting factories humming again will take weeks, the manufacturer said. Boeing machinists approved a new contract last

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November 10, 20240 Comments

Can Spirit Aero survive and what it means for Boeing acquisition By Investing.com

Investing.com — Spirit AeroSystems (NYSE:) on Tuesday, November 5, raised concerns about its ability to continue operations, sparking questions about the implications for Boeing (NYSE:)’s planned acquisition. In its third-quarter financial report, the aerospace manufacturer disclosed “substantial doubt about the Company’s ability to continue as a going concern exists.” “The Company will require additional liquidity to continue its operations over the next 12 months,” the filing added. Spirit AeroSystems reported

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November 10, 20240 Comments

Boeing machinists end strike, approve labor contract with 38% raises

Boeing machinists approved a new labor deal Monday, ending a costly seven-week strike that halted most of the company’s aircraft production, worsening its mounting losses. Machinists voted 59% in favor of the new contract, which includes 38% wage increases over four years and other improvements. The approval is a relief for Boeing’s new CEO, Kelly Ortberg, who took the top job in August to steer the company through its safety

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November 9, 20240 Comments

How much can asset sales help Boeing? By Investing.com

Investing.com — Boeing’s (NYSE:) efforts to stabilize its financial position amid challenging market conditions have intensified following a recent equity raise, but analysts at Wells Fargo suggest that asset sales could provide critical support to the company’s balance sheet.  Currently, Boeing’s credit rating sits just above high-yield status, with negative outlooks across major rating agencies, signaling a need for substantial improvement to maintain its investment-grade status through 2027. Wells Fargo notes

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November 9, 20240 Comments

Economy added 12,000 jobs, impacted by hurricanes, Boeing strike

Job creation in October slowed to its weakest pace since late 2020 as the impacts of storms in the Southeast and a significant labor impasse dented the employment picture. Nonfarm payrolls increased by 12,000 for the month, down sharply from September and below the Dow Jones estimate for 100,000, the Bureau of Labor Statistics reported Friday. In what had already been expected to be a downbeat report, October posted the

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