Boeing CEO Faces Critical Labor Vote Amid Financial Struggles

New CEO Kelly Ortberg aims to resolve a major strike and outline Boeing's future as machinists vote on a revised contract.

Boeing's new CEO Kelly Ortberg is set to address investors as over 32,000 machinists vote on a new contract proposal after a five-week strike.
The proposed contract includes a 35% pay increase and other benefits, but falls short of union demands for a 40% raise.
Boeing has announced plans to cut 10% of its global workforce and raise up to $25 billion to manage its financial challenges.
The strike has significantly impacted Boeing's production and cash flow, costing the company an estimated $1 billion per month.
The aerospace industry is urging President Biden to intervene, highlighting the broader economic impact of the ongoing strike.