Boeing Struggles Amid Strike and Job Cuts

Boeing is facing significant turmoil as it contemplates cutting 17,000 jobs amid a prolonged strike by 33,000 workers from the International Association of Machinists and Aerospace Workers, who are demanding a 40% wage increase. Acting Labor Secretary Julie Su has intervened to mediate the dispute, highlighting the urgency of the situation as Boeing grapples with mounting financial pressures, including a $5 billion charge. Analysts question Boeing's decision to reduce its workforce by around 10%, especially given a talent shortage in the aerospace industry. The strike has already delayed key projects, including the anticipated 777X jetliner, now pushed back to 2026. Despite these challenges, some stakeholders, like China Airlines, report minimal impact on their orders from Boeing. Ongoing negotiations remain tense, with relations between the company and the union at a low point, complicating efforts to reach a resolution.