Boeing Layoffs and Strike Amid Safety Concerns

Boeing is facing a significant crisis as it plans to lay off 17,000 workers, about 10% of its workforce, amid an ongoing strike by the International Association of Machinists and Aerospace Workers (IAM). The strike, which began on September 13, is due to Boeing's refusal to meet a 40% wage increase demand, offering only 25% instead. Acting US Labor Secretary Julie Su has flown to Seattle to mediate between Boeing and the union in hopes of resolving the impasse. The layoffs and strike are compounded by Boeing’s financial struggles, delays in aircraft production, including the 777X jetliner, and safety issues with regulatory scrutiny. The company plans to issue 60-day layoff notices starting next month, with potential further notices in December, affecting both union and non-union workers. Boeing's stock value is declining due to these developments.