Boeing CEO Faces Strike Pressure

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CEO Ortberg

CNBC

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Boeing factory strike crosses 1-month mark as pressure mounts on new CEO

Summary

Nutrition label

72% Informative

Boeing plans to cut 10% of its global workforce by about 10% "over coming months ," CEO Kelly Ortberg says.

Ortberg will face investors for the first time as CEO on Oct. 23 .

Boeing 's unionized machinists are not receiving paychecks and lost their company-backed health insurance at the end of September .

Boeing last week pulled a sweetened contract offer that the union rejected, saying it wasn't negotiated.

Boeing is "facing issues on quality, labor relations, program execution and cash burn," an analyst says.

The estimate includes previously announced cost cuts like temporary furloughs, a hiring freeze and a halt of most purchase orders for affected aircraft.

Boeing 's 737 fuselage maker, Spirit AeroSystems , is considering furlouging workers in its cost-cutting contingency plans.

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English

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