Boeing's 33,000 production workers voted to continue their weekslong strike yesterday, rejecting a 35% pay raise over four years and $7K bonuses, among other benefits.
The vote came as Boeing reported a $6B third quarter loss, raising its full-year losses to $8B amid quality concerns over its 737 Max aircraft. CEO Kelly Ortberg told investors in his first public call yesterday he plans to prioritize a culture shift to reboot the company's image. The statement came after Boeing announced layoffs and other efforts to downsize this month as its credit rating approaches junk status. Boeing's stock fell 3% in midday trading.
Boeing is the single largest exporter in the US by dollar value, generating close to $80B in revenue each year. Still, the company has failed to turn a profit since 2018. See an overview of its recent crises here (w/video).
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