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Aerospace groups dusted off contingency plans on Monday for a potentially lengthy strike at Boeing, whose workers halted production for a third day, while shares in the parent of European rival Airbus got a sharp boost.
Walkout by Machinists union Saturday in contract dispute could cut Boeing revenue by $2.3 billion on the quarter, according to a Cowen and Co. analyst.
A strike at Boeing Co. could cost the airplane manufacturer $2.3 billion in revenue in the third quarter, an analyst said Monday.
Spirit reduces work week during machinists strike at aerospace giant A major Boeing Co. supplier said Monday it has chopped production volume, and implemented a shortened work week, in response to the strike unionized machinists launched against aerospace giant Boeing over the weekend.
NEW YORK (Dow Jones) -- Boeing Co.'s commercial aircraft facilities were quiet Monday after the manufacturer's 27,000 machinists walked off production lines in protest of a proposed labor contract they said fell short on healthcare benefits and job security.
Boeing Co's 27,000 machinists prepared for a third day of strike action, halting production at the plane maker's Seattle-area plants in protest at Boeing's contract offer and what they see as plans to shift more jobs to non-union and foreign companies.
A false rumor that United Airlines had filed for bankruptcy briefly clobbered the shares of parent company UAL Corp. before trading was halted.
Spirit AeroSystems Inc. said Monday it will cut production on some Boeing products in response to the machinists strike at the airplane manufacturer.
NEW YORK (MarketWatch) -- Boeing Co. machinists on Monday hit the pavement for a third day to protest the manufacturer's labor-contract offer which they said fell short on healthcare benefits and job security.
Spirit Withdraws '08 Outlook On Machinist Strike At Boeing
A false rumor that United Airlines had filed for bankruptcy briefly clobbered the shares of parent company UAL Corp. United spokeswoman Robin Urbanski immediately denied the rumor flatly. The company issued a statement saying the reports "were caused by the irresponsible posting of a 6-year-old Chicago Tribune article by the Florida Sun Sentinel newspaper Web site."
Boeing Co.'s machinists, on the third day of a strike over job security and compensation, may be walking the picket lines for more than a month, if history and industry analysts prove any guide.
Boeing's 27,000 union machinists are on strike. Talks between the aerospace company and the International Association of Machinists broke down over the weekend after the parties failed to come to an agreement on pay and health benefits.
With Boeing Co. reportedly losing $100 million a day, striking International Association of Machinists union members showed no indication that their strike against the aerospace giant is anywhere near over. (BA)
BY MOLLY McMILLIN With a strike underway by Boeing Machinists, Boeing supplier Spirit AeroSystems is shortening its work week for most employees. No employee will be asked to work less than three days a week, Spirit chief executive Jeff Turner said in a Monday memo to workers. The reduced work schedule starts this week. It affects employees throughout the company, including hourly and ...
WICHITA | Spirit AeroSystems says it’s cutting production on some Boeing products as a result of the Machinists strike against Boeing.
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