The Society of Professional Engineering Employees in Aerospace, which represents more than 19,000 Boeing employees, stated in Oct. 11 update it contacted the manufacturer to learn how the layoffs would affect its members. SPEAA’s contract with Boeing includes a process that gives workers cash severance payments and three months of continued health insurance benefits, the union stated.

Boeing expects to report another bruising quarter when it releases Q3 results later this month, with operating losses of $1.3 billion and $17.8 billion in revenue, down from $18.1 billion a year ago.

The International Association of Machinists and Aerospace Workers District 751 strike, which is now entering its fifth week, is costing Boeing between $50 million and $150 million a day, according to aerospace consulting firm Leeham News and Analysis.

The work stoppage is also affecting Boeing’s defense, space and security business. The portfolio is expected to see a $2 billion loss in Q3 due to higher estimated costs on 2026 production contracts and beyond, according to the earnings release.

“While our business is facing near-term challenges, we are making important strategic decisions for our future and have a clear view on the work we must do to restore our company,” Ortberg said in the earnings release.

The layoffs are one of many changes Ortberg has implemented since taking over as CEO last month. The chief executive ousted Ted Colbert, who had overseen the space and defense division, according to media reports. BDS COO Steve Parker is serving as interim CEO while Boeing searches for Colbert’s replacement, Breaking Defense reported.

By: DocMemory
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