at an average salary of $92,854, that’s an extra $1.578B they can funnel into executive bonuses, RSU, and stock buybacks. Shareholders rejoice.
phdoofus on
COO: “We’re bleeding cash because of bad decisions made by executives and because of people in the unions who work for us squealing to Congress. What do we do?!”
CEO: <opens notes from b-school> “Cut jobs!”
TacoCthulhu on
Vulture-max shareholder-value-capitalism is reaching its final form in spectacular fashion via Boeing.
RexNebular518 on
They never learn….
InertiasCreep on
And of course they’ll cut the people with the most longevity . . . who have the most experience. What could possibly go wrong??
scifenefics on
That should put some pressure on the remaining employees and improve the quality of the builds. /s
iDontRememberCorn on
and THAT should take care of ALLLLLL the issues!
TechMe717 on
How will they keep making planes with 17,000 less employees?
el_pinata on
Before that ratfuck Jack Welch ruined everything by rushing the late stage capitalism endgame, companies didn’t lay people off to get (more) profitable. It wasn’t seen as a thing. His poison is everywhere, including Boeing.
yosarian_reddit on
The beatings will continue until morale improves
Beautiful-Storm3746 on
Such an ethical company. It’s the Phillip Morris company of today. No proof that cigarettes increase heart disease err no proof shortcuts affects plane safety, we used duct tape and fishing wire.
RealPersonResponds on
Doors are falling off their planes and they’re firing workers?
VirginiaWillow on
I guess it’s easier to destroy 17,000 people’s careers instead of shooting them all, disgusting corporation
spotterone on
I think people are being a bit unfair to Boeing now. The new CEO (who is actually an engineer) might actually know what he is doing and was given such a mess by the previous CEO that there isn’t many options at this point. They basically need to break the company down and build it back up again.
MonsterJose on
Damn housing market is about to get good 💸
Waste-Mission6053 on
Imagine a government that doesn’t limit ceo pay and isn’t forced by law to limit salary and reinvest.
greenoceanwater on
The engineer’s left , the company goes shite. Ceo + executives should resign.
Rapid-Engineer on
Lots of people not understanding what’s going on.
The boeing union strike is costing $100 million a day. Or $3 billion a month. If they run out of money, then the business is effectively bankrupt. They need more runway and cutting a lot of jobs helps buy them time. These roles would need to be refilled after the strike. Desperate times call for desperate measures.
They’re screwing the investors by issuing new shares and doing everything they can to withstand the labor dispute. The current average wage for a machinist there is $77k and the union wants 40% increase over 4 years or basically 10% each year. Boeings last offer was 30% as to high of a wage increase puts significant pressure on their products staying cost competitive.
SkirtOne8519 on
They need to hire less engineers and more accountants
EMP_Jeffrey_Dahmer on
Where’s Biden when we need him. I thought he was for the working class and collective barging. Not one word of support from him. It would have made a huge difference in the union’s favor.
homebrewguy01 on
Now that it has been sucked dry by venture capitalists what else would you expect?
I honestly can’t remember the last time this company did something right.
crunchyfrogs on
As usual, unions ruin everything. First the greedy investors ate the meat and then the greedy unions picked at the bones.
tatertotmagic on
Would be interesting if the Chinese aircraft maker Comac were able to swoop in and hire all those experts getting fired
J0E_Blow on
I thought they said they *weren’t* gonna do this?
MegamemeSenpai on
Fuck Boeing and fuck companies who put shareholders over their product and workers
Strange_Demand_8768 on
Ahhhh yes! That’ll solve all their issues! Quickly now, an executive needs a new Ferrari!
PitchBlac on
Boeing seems to be stuck In between pleasing shareholders and being an engineering company. If you choose to run a business you cut corners and then you have your planes falling out of the sky. Better get back to their roots.
Chisto23 on
The big shareholders don’t care, until they can’t take their private plane for once and have to ride on a Boeing with the wing ripping off.
Dangerous-Policy-602 on
Just quit then
ThatHotAsian on
Looks like driving long distances is back on the menu boys…
32 Comments
at an average salary of $92,854, that’s an extra $1.578B they can funnel into executive bonuses, RSU, and stock buybacks. Shareholders rejoice.
COO: “We’re bleeding cash because of bad decisions made by executives and because of people in the unions who work for us squealing to Congress. What do we do?!”
CEO: <opens notes from b-school> “Cut jobs!”
Vulture-max shareholder-value-capitalism is reaching its final form in spectacular fashion via Boeing.
They never learn….
And of course they’ll cut the people with the most longevity . . . who have the most experience. What could possibly go wrong??
That should put some pressure on the remaining employees and improve the quality of the builds. /s
and THAT should take care of ALLLLLL the issues!
How will they keep making planes with 17,000 less employees?
Before that ratfuck Jack Welch ruined everything by rushing the late stage capitalism endgame, companies didn’t lay people off to get (more) profitable. It wasn’t seen as a thing. His poison is everywhere, including Boeing.
The beatings will continue until morale improves
Such an ethical company. It’s the Phillip Morris company of today. No proof that cigarettes increase heart disease err no proof shortcuts affects plane safety, we used duct tape and fishing wire.
Doors are falling off their planes and they’re firing workers?
I guess it’s easier to destroy 17,000 people’s careers instead of shooting them all, disgusting corporation
I think people are being a bit unfair to Boeing now. The new CEO (who is actually an engineer) might actually know what he is doing and was given such a mess by the previous CEO that there isn’t many options at this point. They basically need to break the company down and build it back up again.
Damn housing market is about to get good 💸
Imagine a government that doesn’t limit ceo pay and isn’t forced by law to limit salary and reinvest.
The engineer’s left , the company goes shite. Ceo + executives should resign.
Lots of people not understanding what’s going on.
The boeing union strike is costing $100 million a day. Or $3 billion a month. If they run out of money, then the business is effectively bankrupt. They need more runway and cutting a lot of jobs helps buy them time. These roles would need to be refilled after the strike. Desperate times call for desperate measures.
They’re screwing the investors by issuing new shares and doing everything they can to withstand the labor dispute. The current average wage for a machinist there is $77k and the union wants 40% increase over 4 years or basically 10% each year. Boeings last offer was 30% as to high of a wage increase puts significant pressure on their products staying cost competitive.
They need to hire less engineers and more accountants
Where’s Biden when we need him. I thought he was for the working class and collective barging. Not one word of support from him. It would have made a huge difference in the union’s favor.
Now that it has been sucked dry by venture capitalists what else would you expect?
Just going to leave this here https://www.commondreams.org/news/boeing-mass-layoffs
I honestly can’t remember the last time this company did something right.
As usual, unions ruin everything. First the greedy investors ate the meat and then the greedy unions picked at the bones.
Would be interesting if the Chinese aircraft maker Comac were able to swoop in and hire all those experts getting fired
I thought they said they *weren’t* gonna do this?
Fuck Boeing and fuck companies who put shareholders over their product and workers
Ahhhh yes! That’ll solve all their issues! Quickly now, an executive needs a new Ferrari!
Boeing seems to be stuck In between pleasing shareholders and being an engineering company. If you choose to run a business you cut corners and then you have your planes falling out of the sky. Better get back to their roots.
The big shareholders don’t care, until they can’t take their private plane for once and have to ride on a Boeing with the wing ripping off.
Just quit then
Looks like driving long distances is back on the menu boys…