Started on September 13, the walkout has significantly impacted Boeing's production, causing losses nearing $10 billion, as revealed by consulting firm Anderson Economic Group. In October alone, Boeing's commercial aircraft division reported losses of $4 billion for the quarter ending September. Despite the difficult negotiations, IAM union leader Jon Holden hailed the deal as a victory for worker respect and fair wages.
Boeing CEO Kelly Ortberg acknowledged the challenges faced during the strike but emphasized the need to return to the company’s roots of excellence. Earlier attempts by the company to negotiate had led to the departure of almost 17,000 workers as it sought to stabilize its financial standing. The conflict was underscored by heightened attention from Washington, with acting US Labor Secretary Julie Su directly intervening in negotiations. Boeing is in the midst of a financial overhaul, recently planning a share sale worth over $20 billion.
As both the company and its employees look to rebuild after the strike, the focus will remain on restoring operational efficiency while addressing worker concerns around pay and job security.
Boeing CEO Kelly Ortberg acknowledged the challenges faced during the strike but emphasized the need to return to the company’s roots of excellence. Earlier attempts by the company to negotiate had led to the departure of almost 17,000 workers as it sought to stabilize its financial standing. The conflict was underscored by heightened attention from Washington, with acting US Labor Secretary Julie Su directly intervening in negotiations. Boeing is in the midst of a financial overhaul, recently planning a share sale worth over $20 billion.
As both the company and its employees look to rebuild after the strike, the focus will remain on restoring operational efficiency while addressing worker concerns around pay and job security.
