Boeing says it's cutting more than 17,000 jobs, or 10% of its workforce

[Elim Garak]

 

[Elim Garak]

 

[Diondon]

Those pieces of shyt
Right when the workers are striking

 

[Groanman]

Bidenomics

 

[Elim Garak]

Bidenomics

You realize they started struggling during the beginning of the pandemic right?

 

[Koapa]

Fukk Boeing. They need to brought in from of Congress.

 

[Thavoiceofthevoiceless]

This is going to drag contracts and negotiations further and further and further into the future.

They're a pain in the ass to deal with right now.

 

[King Harlem]

Bidenomics

You brought this on yourself...explain exactly why this is Biden's fault?

 

[O.T.I.S.]

They need to fire them nikkas running that company.

 

[MajesticLion]

inb4 they fired all the compliance people

 

[Pull Up the Roots]

Bidenomics

Shut up. This is what happens when you prioritize shareholders over everything else.

NYU Stern Center for Business & Human RightsBoeing’s Decline Traced to Decades of Catering to Shareholders Above All Others

Boeing faces a safety crisis rooted in its prioritization of shareholder interests over quality, leading to fatal crashes, incidents like a mid-flight door blowout, and a decline in production safety standards, as highlighted by Dominic Gates' Seattle Times article.

bhr.stern.nyu.edu

Boeing's Struggles Highlight the Perils of Stock Buybacks

As Boeing's continuing difficulties make clear, the costs of this short-sighted approach can be steep indeed - not just for individual companies, but for entire industries and the broader economy.

greenalphaadvisors.com

At the time, Boeing was grappling with the fallout from two devastating 737 Max crashes, which killed 346 people and led to a worldwide grounding of the aircraft. It soon emerged that Boeing had spent a staggering $43 billion on stock buybacks between 2013 and 2019 – more than its total profits during that period – while allegedly skimping on safety and ignoring design flaws.

Fast forward to 2024, and Boeing’s woes have only multiplied. The 737 Max remains a reputational and financial albatross, with orders still lagging rival Airbus. Quality control issues have plagued other key programs like the 787 Dreamliner, leading to delivery delays and costly rework. And the company’s space ambitions have been rocked by the Starliner capsule’s persistent technical problems.

These ongoing struggles underscore just how damaging Boeing’s obsession with stock buybacks has been. By prioritizing the wealth of short-term traders (as opposed to investors) over long-term investments in innovation, safety, and quality, the aerospace giant has jeopardized its market dominance and, more importantly, the trust of the flying public.

 

[benjamin]

The CEO right after he sent that email

 

[Pull Up the Roots]

Now they are laying off 10% of their workforce.

 

[Kiyoshi-Dono]

we about to be risking life and limb ridding in them lego built airplanes

 

[thenatural]

They're about to get hit heavy in Everett with the layoffs. Not surprised they announced this after they pulled the 30% offer. I wonder how heavy they're going to hit the supporting units.