Reported about 1 month ago
As Boeing's labor strike extends into its sixth week, the company announces a drastic 10% reduction in workforce, equating to around 17,000 jobs lost. The International Association of Machinists rejected Boeing's pay offers, escalating the conflict which has already led to production halts costing the company approximately $1 billion a month. Boeing's management is preparing for potential long-term implications by securing a $10 billion credit line and planning to raise an additional $25 billion, positioning itself to weather the strike.
Source: YAHOO