Comment on Boeing reports $6 billion quarterly loss ahead of vote by union workers who have crippled production

Boeing reports $6 billion quarterly loss ahead of vote by union workers who have crippled production

By DAVID KOENIG and MANUEL VALDES EVERETT, Wash. — Boeing reported a loss of more than $6 billion in the third quarter and immediately turned its attention to union workers who will vote Wednesday whether to accept a company contract offer or continue their crippling strike, which has dragged on for nearly six weeks. New CEO Kelly Ortberg laid out his plan to turn Boeing around after years of heavy losses and damage to its reputation. In remarks he planned to deliver later Wednesday to investors, Ortberg said Boeing needs “a fundamental culture change in the company.” To accomplish that, he said, company leaders need to spend more time on factory floors to know what is going on and “prevent the festering of issues and work better together to identify, fix, and understand root cause.” Ortberg repeated that he wants to “reset” management’s relationship with labor “so we don’t become so disconnected in the future.” He expressed hope that machinists will vote to approve the company’s latest contract offer and end their strike. “It will take time to return Boeing to its former legacy, but with the right focus and culture, we can be an iconic company and aerospace leader once again,” he said. The strike is an early test for Ortberg, a Boeing outsider who became CEO in August. Ortberg has already announced large-scale layoffs and a plan to raise enough cash to avoid a bankruptcy filing.

 

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