Boeing Faces Major Strike Amid Financial Struggles and Cost-Cutting Measures

With 33,000 workers on strike, Boeing's CFO announces cost-saving actions, risking further damage to employee morale and financial stability.

Approximately 33,000 unionized Boeing workers began a strike after rejecting a contract offering a 25% wage increase over four years.
Boeing CFO Brian West announced cost-cutting measures including a hiring freeze, reduced travel, and potential temporary layoffs to preserve cash.
The strike and financial pressures have led rating agencies to consider downgrading Boeing's debt to junk status, potentially exacerbating the company's $60 billion debt burden.
The work stoppage could cost Boeing up to $108 million per day in lost revenue, with a potential total loss of $5.5 billion if the strike lasts 50 days.
Negotiations between Boeing and the union are set to resume, with both sides prepared for a prolonged standoff as financial strains mount.