Reported 2 months ago
Boeing has withdrawn its contract offer amid a significant strike by the International Association of Machinists and Aerospace Workers, which has halted production at its key facility. The breakdown in negotiations has led to S&P Global Ratings warning that Boeing may be downgraded to junk status, threatening its financial stability as it faces an estimated $10 billion in cash burn this year. Both Boeing and the union blame each other for the impasse while the company explores raising funds through new stock sales to address its financial challenges.
Source: YAHOO