BoeingNYSE: BA

Kelly Ortberg had a tough message for Boeing employees, including that the company is at a ‘low' as employees spend more time arguing among themselves than figuring out how to beat Airbus.

Boeing has sent layoff notices to 692 employees in Missouri, where its Defense, Space & Security division is located. This move is part of the company's strategy to reduce its workforce by 17,000 jobs, which is about 10% of its total global staff. The information was shared in a filing that is required by federal regulations.

Boeing's stock price has dropped recently and is close to its lowest point since October 2022, due to worries about its business and the new Trump administration. This year, the stock has fallen by 44%, resulting in a market value of over $107 billion.

Boeing employees throughout the United States are being informed about upcoming layoffs, with the majority of those affected based in Washington state.

Boeing Co (NYSE:BA, ETR:BCO) is planning to lay off 2,500 employees in the US as part of major cuts announced last month. Nearly 2,200 workers in Washington have received layoff notices, along with about 220 in South Carolina, where Boeing manufactures commercial airplanes.

In 2024, Boeing Company (NYSE: BA) faced many challenges, including regulatory problems, bad press, job cuts, increasing debt, stock dilution, and significant losses. These issues were highlighted by a strike involving 33,000 machinists.

Boeing Co (NYSE:BA, ETR:BCO) has informed 438 members of its aerospace workers' union about upcoming layoffs, as part of a larger plan to reduce around 17,000 jobs, which is 10% of its total workforce. These job cuts are a response to financial difficulties, regulatory issues, and the impact of an eight-week strike by machinists.

Production decreased by 0.3% following a 0.5% decline in the previous month.

On November 15, 2024, in Arlington, Virginia, the Board of Directors of The Boeing Company [NYSE: BA] announced that Tim Buckley will join as a new member starting January 1, 2025.