Boeing seeks up to $35bn as costly strike drags on

Boeing plans to raise up to $35 billion from investors and banks as a costly strike by thousands of its workers enters its second month.

The union representing over 30,000 workers held a rally in Seattle while Boeing prepares to lay off about 17,000 employees, with notices expected by mid-November.

Negotiations to end the strike collapsed last week when Boeing withdrew a 30% pay rise offer over four years.

The company aims to raise $25 billion through stock and debt offerings and has secured an agreement with banks to borrow up to $10 billion.

Boeing’s shares rose 2.2% following the announcements. Although the layoffs will be compulsory with severance offered, they currently do not impact striking workers, the BBC has reported.

read more: https://www.bbc.com/news/articles/cwy9l7k40kgo

Links for B.C.

Visit My Website
https://bcbegley.com

Follow Me On Facebook
https://www.facebook.com/B.C.Begley

Subscribe To My Patreon
https://www.patreon.com/bcbegley

Watch Me On YouTube
https://www.youtube.com/channel/UCGoUf-QQTlTN-BIh3ERCE9A

Follow Me On Twitter
https://twitter.com/BC_News1

Watch Me On Rumble
https://rumble.com/c/c-280191

Follow Me On Gab
https://gab.com/BC_Begley

Follow Me On Truth Social
https://truthsocial.com/@BC_Begley

#Boeing