Reported 17 days ago
Boeing's stock plummeted to a 52-week low as the company faces a significant labor strike involving its largest union, the International Association of Machinists and Aerospace Workers (IAM), which has already cost an estimated $571 million. In response, Boeing announced temporary furloughs impacting many employees and executives as part of aggressive cost-cutting measures to preserve cash during this challenging period. The company's financial stability is further under scrutiny due to its high debt levels, and analysts warn that an extended strike could prove detrimental to Boeing's recovery efforts and production goals.
Source: YAHOO