Boeing Workers Vote on New Contract Offer
Boeing Workers Vote on New Contract Offer
Boeing Workers Vote on New Contract Offer
News summary

Boeing is undergoing significant changes as it has terminated contracts with over half of its lobbying firms amidst a financial crunch caused by a strike, which has seen the company lose over $1 billion monthly. The machinists union is voting on a new contract that offers a 35% pay raise over four years, but does not reinstate pension benefits, a key issue for many workers. Boeing's new CEO, Kelly Ortberg, plans to make tough decisions and structural changes to restore competitiveness, having announced layoffs of about 10% of the workforce. Despite the current offer being better received than the last, uncertainty prevails among workers regarding the vote outcome. Meanwhile, Boeing aims to raise up to $25 billion to improve cash flow and address production quality issues that have plagued its operations. The company's future remains precarious, with warnings of potential credit downgrades and bankruptcy looming.

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21 days ago
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