Boeing reports $6.1 billion third-quarter loss as strike takes toll on plane maker
CBSN
Boeing reported a massive third-quarter loss of more than $6 billion, as the airplane manufacturer was dragged down by a strike and billions in charges tied to its commercial aircraft and defense programs.
Boeing's loss comes as the company is struggling to right itself after manufacturing problems and multiple federal investigations following a mid-air panel blowout in January. And in September, 33,000 of its machinists went on strike after failing to agree on a contract, shutting assembly plants in the Seattle area.
In August, the company brought in Kelly Ortberg, a seasoned aerospace executive, as its new CEO with the mandate to right Boeing's safety and manufacturing issues. Ortberg, who earlier this month announced job cuts of 10% of the company's workforce, or 17,000 employees, on Wednesday wrote in prepared remarks he'll deliver to investors later today that Boeing is "at a crossroads."
