Boeing's Big Loss: Will Workers Accept Contract?

Boeing is facing a massive $6 billion loss this quarter. Meanwhile, the company is waiting for machinists to vote on a contract that offers big pay raises. The CEO, Kelly Ortberg, who's only been in the job for a few months, wants to fix the company's problems. He says the company needs a culture change and wants to get along better with workers. The strike has been going on for almost six weeks now. Ortberg wants workers to vote "yes" on the contract. He knows the company has big money troubles. The strike is just one of the problems. Boeing also has a lot of debt and has faced safety issues with their planes in the past. The company needs to get back on track and make customers happy again.

The contract would give workers a 35% pay raise over four years and some bonuses. But workers aren't happy with everything in the contract. They want their pensions back, which the company froze a long time ago. Some workers say they won't agree to the contract unless the pension issue is fixed. Boeing hasn't had a good year since 2018. This quarter's loss is one of the worst in the company's history. The company is also burning through cash, which is making things even worse.

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