Boeing issues layoff notices as aerospace giant cuts 17,000 jobs
Boeing announced it will issue termination notices to employees included in the aerospace giant's broader layoffs plan. Boeing said the approximately 17,000 employees affected by the layoffs were notified this week and are expected to leave in mid-January. The cuts, which were made in response to a trade union strike, amount to 10% of the […]
Boeing looks to sell space business: report
Keith FitzGerald, president of FitzGerald Group, is looking at the top and bottom stocks before the market opens on Monday. Aerospace giant Boeing is reportedly considering selling part of its space business as it looks at ways to streamline its operations. of The Wall Street Journal reported Boeing is considering selling some of NASA's businesses, […]
Boeing factory workers vote to accept contract and end more than 7-week strike
Boeing Co.'s machine workers union voted Monday to accept a contract offer and end a strike after more than seven weeks, putting the aerospace giant on a path to restarting production of its best-selling airliner and generating much-needed cash. I cut it open. Leaders of the International Association of Machinists and Aerospace Workers district in […]
Boeing offers new deal to end 7-week strike: What to know
Striking Boeing mechanics are scheduled to vote Monday on a new deal that could end a strike that has spanned more than seven weeks. The International Association of Machinists (IAM), which represents approximately 33,000 mechanics, announced A preliminary contract was approved earlier this week. “Your union supports and recommends the latest IAM/Boeing contract proposal. It […]
Boeing machinists vote to end strike after 53 days
Boeing mechanical engineers voted Monday to end a strike that has hobbled the company for the past 53 days. The new contract includes a 38% pay increase over the next four years and a recognition bonus of $12,000. Boeing says the average machinist will earn $119,309 a year at the end of four years, an […]
Machinists union rejects Boeing contract offer, extending strike
Keith FitzGerald, president of FitzGerald Group, is looking at the top and bottom stocks before the market opens on Monday. Union representing 33,000 people Boeing machinists on strike rejected the company's latest contract offer on Wednesday night, extending a strike that is straining aircraft production. The International Association of Machinists and Aerospace Workers (IAM) has […]
Tesla, UPS, Hasbro and Southwest rise premarket; Boeing and IBM fall – Investing.com
Investing.com — U.S. stocks rose modestly on Thursday, following Wednesday's decline marked by rising yields and declines in big tech stocks. Here are the biggest stocks moving U.S. stocks in the premarket today. tesla (NASDAQ:) Shares rose 13% after the electric vehicle manufacturing giant posted better-than-expected third-quarter profits and said it expected deliveries to increase […]
Boeing posts $6B loss as CEO calls for ‘fundamental culture change’
Boeing CEO Kelly Ortberg on Wednesday laid out a cautious path to rebuilding the struggling aircraft maker as a devastating strike balloons its quarterly loss to $6 billion. called for a “fundamental cultural change”. The company is facing losses of nearly $8 billion this fiscal year, as production of its 737 MAX, 777 and 767 […]
Boeing machinists reject new contract on 41st day of strike
Striking Boeing mechanics rejected a proposed contract that would have ended a costly 41-day work stoppage. Machinists, represented by the International Association of Machinists and Aerospace Workers (IAM), rejected the deal, which included a 35% wage increase over the next four years, a $7,000 ratification bonus and improved retirement benefits. “There are consequences when companies […]
Boeing CEO on third-quarter earnings: ‘Trust in our company has eroded’
Keith Fitz-Gerald, president of the Fitz-Gerald Group, is looking at the top and bottom stocks before the market opens on Monday. Boeing CEO Kelly Ortberg said Wednesday that “confidence in our company has been eroded,” and laid out plans for the aerospace giant to regain its industry leadership position while addressing financial challenges. Who was […]