Boeing has resumed production of its airplanes after a seven-week strike by workers, which ended with the signing of a new contract.
The Seven-Week Strike
The strike lasted from September 13, 2024, involving 33,000 workers and was driven by disputes over compensation and benefits. The new contract was approved by 59% of union members and included a 38% wage increase over four years and a $12,000 bonus for hourly employees.
Company's Financial Losses
During the strike, Boeing lost $7.6 billion due to halted production. The company also announced plans to lay off 17,000 workers and temporarily cut off health insurance, adding pressure to reach an agreement with workers.
Boeing Stock Brief
Boeing's stock opened at $173.28, reaching a high of $176.72. The 52-week range has been between $137.03 and $267.54, indicating significant volatility. Recently, Deutsche Bank issued a "buy" rating, while Susquehanna offered a "positive" outlook.
The resumption of production marks a crucial step forward for Boeing after a challenging period, with improved working conditions aiming to stabilize the company's future.
