Boeing is trying to raise $35 billion to cope with the ongoing strike that’s been affecting the company for two months.
On Tuesday, hundreds of workers protested in Seattle, and the union representing over 30,000 employees held a rally to push for better working conditions.
Boeing, however, plans to lay off around 17,000 workers, with notices starting mid-November.
The strike talks broke down last week after Boeing took back its offer of a 30% pay raise over four years.
Now, the company aims to gather $25 billion from investors through selling stock and taking loans, and it’s also secured $10 billion from major banks to help them through this tough time.
Boeing says it needs these funds to stay strong while dealing with the strike and its other challenges. The company also announced plans to cut its workforce by 10% and delay deliveries of its new 777X airplane.
Boeing says these steps are necessary to ensure they have enough cash during this difficult period.
Credit : BBC
https://www.bbc.com/news/articles/cwy9l7k40kgo