“Getting rid of a lot of talent when there’s a serious aerospace talent shortage doesn’t seem like the smartest move,” he added.
The company announced a series of belt-tightening measures and production delays on Friday, as the strike of 33,000 workers has added to Boeing’s litany of problems.
Boeing has been struggling after the crashes of 2018 and 2019 (346 deaths in total) and the Covid-19 pandemic. The company’s cash position is rapidly diminishing as the strike continues.
Meanwhile, between 2010 and 2019, the group paid out $68 billion to shareholders in dividends and share buybacks.
Boeing also announced $5 billion in pre-tax charges in the third quarter — to be published on October 23 — partly due to the strike, as well as the halt in production of the 767 Freighter.
“a direct outcome of poor decision-making by Boeing’s executives.”
Since the strike started, Boeing has halted production of multiple key aircrafts, like its 777 and 776 jets. Because the company is making fewer airplanes, Isely estimates that about 500 supply workers West Michigan are or will be temporarily laid off.
“We’re starting now to see employees start to have to be laid off because there’s no work to do,”
https://www.yahoo.com/finance/news/strike-hit-boeing-leaves-experts-210532878.html
now watch how Americans workers get blamed for the bankruptcy….while the former CEOs and biggest shareholders have run away with their predatory profits …🤑
Where are the trillions of our taxpayers money handouts that Boeing CEOs creeps penny pinchers..?
Far right extremists libertarians tech bros dismantling America economy system with their predatory practices profits and thieving…🤢🐗
See ‘successful ‘ Argentina?……that’s America future…very close future…
Source: BikkaZz