Boeing Faces Crisis as Worker Strike Intensifies

Boeing is under pressure as 33,000 workers strike over wage disputes, demanding a 40% raise. A rally in Seattle aims to increase pressure on the new CEO. The company announced job cuts and financial maneuvers to stabilize its finances amid a financial crisis.

Boeing is facing significant challenges as a strike by 33,000 workers continues, demanding a 40% wage increase. The strike, which began on September 13, has halted production of key models and is putting new CEO Kelly Ortberg under immense pressure to negotiate a resolution.

A major rally is set to take place in Seattle, with union members seeking to force the company to address their demands. Both U.S. Labor Secretary Julie Su and regional politicians are involved in trying to mediate the dispute, which has seen accusations of unfair labor practices from both sides.

Boeing has announced plans to cut 10% of its workforce, or 17,000 jobs, as part of efforts to avoid a credit downgrade and improve its financial standing. This includes a strategic financial move involving stock and debt offerings, as well as securing a $10 billion credit line, aiming to calm the growing financial storm.

(With inputs from agencies.)