Boeing reports $11.8 billion annual loss in latest quarterly results
ARLINGTON, VA—The Boeing Company delivered its fourth quarter results on Tuesday, January 28, clocking a 31% decrease in revenue from 2023 which it says was driven by the IAM strike and other factors. Net earnings for the quarter were a loss of $3.9 billion for an annual earnings loss of $11.8 billion. Annual revenues for […]
Boeing Reports Preliminary Fourth Quarter Results
ARLINGTON— The Boeing Company announced on Thursday, January 23, it will recognize impacts to its financial results related to the IAM work stoppage and agreement, charges for certain Defense, Space & Security programs and costs associated with workforce reductions announced last year when it reports fourth quarter results on January 28. The company expects to […]
Boeing lays out ramp up plan as 33,000 machinists return to work
EVERETT—Tens of thousands of International Association of Machinists (IAM) 751 & W24 union members returned to work Tuesday, November 12, following approval of a historic agreement with Boeing on November 4, ending a 53-day strike that cost the aerospace juggernaut billion dollars in lost revenue. The Boeing Production System follows a lean methodology utilizing Just-in-Time, […]
Third time is the charm: IAM union approves contract
SEATTLE—International Association of Machinists 751 & W24 union members voted, 59 percent, on Monday, November 4, to accept the latest October 31 contract offer from Boeing—the strike has ended. “This is time for us to come together, this is a victory,” International Association of Machinists 751 President Jon Holden said to cheers and a few boos from […]
Boeing and IAM announce new contract vote for Nov 4
EVERETT—With the assistance of Secretary of Labor Julie Su, the International Association of Machinist (IAM) 751 & W24 will be allowing its 33,000 members on Monday, November 4, to vote on an updated contract offer by Boeing with hopes to ending a 49-day strike that has cost billions of dollars in lost revenue. “Your Union […]
Boeing announces stock offerings of $22 billion to pay debt and raise capital
ARLINGTON—Less than a week after reporting $6.2 billion in third quarter losses and machinist union members rejecting its latest contract offer, Boeing announced on October 28, stock offerings to raise up to $22 billion to help ease its financial woes. “Boeing intends to use the net proceeds from the Offerings for general corporate purposes, which […]
Boeing IAM workers reject latest offer, strike continues, Boeing silent
SEATTLE—Boeing IAM 751 & W24 union members overwhelmingly voted, 64 percent, on Wednesday, October 23, to reject the latest October 19 contract offer from the aerospace company. The strike continues. “This wasn’t enough for our members,” Jon Holden, IAM 751 President told reporters at Wednesday’s presser following the vote. “There is a big gap we […]
Boeing reports $6.2 billion loss for third quarter results
ARLINGTON, Va.—At its third-quarter 2024 earnings briefing on October 23, Boeing President and CEO Kelly Ortberg shared the grim reality of the company’s financial challenges ahead and his four-point plan to “restore Boeing to the leadership position that we all know and want.” “It will take time to return Boeing to its former legacy, but with […]
V-Day: Tens of thousands of Machinists vote on Boeing’s latest offer
EVERETT—Polling locations in Washington, Oregon, and California open on October 23 at 8 a.m. where approximately 33,000 International Association of Machinist (IAM) 751 & W24 workers will decide to accept or reject the latest October 19 bargaining agreement offer by Boeing. The latest offer is a much better deal from the original union leadership endorsed […]
High-ranking congressional leaders urge Boeing and IAM to reach deal, ‘$8 trillion’ at stake
EVERETT—Three of the highest-ranking congressional leaders—U.S. Senator Maria Cantwell (D-WA), chair of the Senate Committee on Commerce, Science, and Transportation, Representatives Adam Smith (D, WA-09), ranking member of the House Armed Services Committee, and Rick Larsen (D, WA-02), ranking member of the House Transportation & Infrastructure Committee—along with president pro tempore of the United States […]
