Boeing reported a net loss of over $6.1 billion in its third quarter Wednesday, as roughly a fifth of its employees went on strike.
This comes after the company reached a tentative deal with its 33,000 employees, represented by the International Association of Machinists and Aerospace Workers, who were employed at Boeing’s manufacturing factory, where its 737 MAX, 767, and 777 planes are produced. However, the latest losses “primarily reflect impacts of the IAM work stoppage,” according to Boeing.
“It will take time to return Boeing to its former legacy, but with the right focus and culture, we can be an iconic company and aerospace leader once again,” Boeing President and CEO Kelly Ortberg said. “Going forward, we will be focused on fundamentally changing the culture, stabilizing the business, and improving program execution while setting the foundation for the future…
