A strike by more than 30,000 Boeing machinists over a rejected contract has cost the company over $1 billion a month and added pressure to CEO Kelly Ortberg. Talks have broken down, and the strike could last two to five more weeks. Workers have lost pay and health insurance, but there are opportunities for temporary work in the Seattle area. Boeing plans to cut its global workforce by 10% and stop producing commercial 767 freighters. The company is facing deepening losses and may need to raise as much as $15 billion in equity. Analysts warn of potential downgrade to junk status for Boeing. Instability at Boeing could affect its suppliers, such as Spirit AeroSystems. CEO Ortberg faces tough decisions as he tries to stop the bleeding at the company while losses continue to mount.
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