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Boeing CDR (CAD Hedged)
Symbol BA
Shares Issued 950,000
Close 2024-10-11 C$ 26.17
Market Cap C$ 24,861,500
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Globe/wire say Boeing gets visit from White House rep

2024-10-15 09:21 ET - In the News

The Globe and Mail reports in its Tuesday edition that acting U.S. labour secretary Julie Su flew to Seattle on Monday to try to ease a Boeing machinists strike, as thousands of employees face layoffs and a major airline reacted with alarm to the plane maker's deepening turmoil. A Reuters dispatch to The Globe says that Ms. Su's first in-person intervention comes days after Boeing -- dealing with a crippling strike now in its fifth week -- unveiled plans to cut 17,000 jobs and take $5-billion (U.S.) in charges, continuing a year of tumult for the company. While Ms. Su has previously spoken with Boeing and the union, it is her first time in Seattle meeting both sides in person. Roughly 33,000 workers have been on strike since Sept. 13, seeking a 40-per-cent wage increase and the restoration of a defined-benefit pension they agreed to give up in 2014. Neither Boeing nor the union were immediately available for comment. Boeing shares fell 1.3 per cent to close at $148.99 (U.S.) on Monday, after the company's surprise after-hours announcement on Friday, which also included a new delay to the 777X jetliner and the ending of civil 767 freighter production. Boeing will hold meetings this week to lay out detailed plans.

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