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Boeing lost $3.5 billion due to labor strikes and layoffs in the fourth quarter

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Boeing (BA) reported preliminary fourth quarter results on Thursday after the bell, estimating a whopping $3.5 billion operating cash flow loss due to the effects of the IAM (International Association of Machinists) work stoppage,
The article from MSN discusses how Boeing reported a significant financial loss of $3.5 billion in the fourth quarter, largely attributed to labor strikes and layoffs. This financial setback was compounded by ongoing issues with their 737 MAX production, which has faced numerous challenges including regulatory scrutiny and production delays. The labor disputes involved machinists and engineers, leading to work stoppages that disrupted production schedules. Additionally, the company had to manage the costs associated with layoffs, which were part of broader cost-cutting measures. These events not only affected Boeing's financial performance but also its operational capabilities, highlighting the complex interplay between labor relations, production, and financial health in the aerospace industry.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/companies/boeing-lost-3-5-billion-due-to-labor-strikes-and-layoffs-in-the-fourth-quarter/ar-AA1xNorI ]