Boeing recently issued layoff notices
Boeing recently issued layoff notices due to financial and regulatory issues. The layoffs impacted over 400 SPEEA members, including engineers, scientists, analysts, and technicians. Boeing has faced significant production challenges over recent years, as well as major legal challenges and controversies.
In this gallery, we diver into some of Boeing’s struggles and plans moving forward.
Followed an eight-week machinists' strike
The layoffs followed an eight-week machinists’ strike. CEO Kelly Ortberg, however, argued that the cuts are a result of significant overstaffing, not the strike. The company’s financial woes began following a plane incident.
The strike had halted 737 MAX production
The strike had halted 737 MAX production. Boeing later canceled unpaid leave but planned to cut 17,000 jobs. Ortberg previously outlined a cautious recovery plan, noting a need for cultural change as the company faced $6 billion in quarterly losses following the strike.
Boeing reported nearly 8 billion in losses
Boeing reported nearly $8 billion in losses for the year, impacted by the halted production of the 737 MAX, 777, and 767 planes, and challenges in its defense division.
Secured a contract with machinists
Boeing secured a contract with machinists, ending the strike, with production of the 737 MAX resuming gradually. The company recently raised $24 billion to support future initiatives.
Your lost pay
Ortberg said, “Your sacrifice made a difference and helped the company bridge to this moment. We want to acknowledge your support by returning your lost pay if you went on unpaid furlough.”
More focused and streamlined set of priorities
Ortberg wrote, “We will continue forward with our previously announced actions to reduce our workforce levels to align with our financial reality and a more focused and streamlined set of priorities.”
Important to our competitiveness
Ortberg added, “These structural changes are important to our competitiveness and will help us deliver more value to our customers over the long term.”