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The Justice Department says it has reached an agreement in principle with Boeing to drop a criminal case over two fatal crashes of 737 Max jets, despite objections from some victims' family members.
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Boeing's CEO admits the company "made serious missteps" that hurt the safety of its planes. But denies the company pressures workers to speed up airplane production.
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A federal judge in Texas has rejected a plea deal between Boeing and the U.S. Justice Department, saying the court should play a bigger role in selecting an independent monitor to oversee the company.
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Boeing’s machinists union leaders are endorsing the company’s latest contract offer, setting the stage for a vote on Monday that could end the seven-week strike.
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Boeing overcharged the Air Force nearly $1 million for spare parts on C-17 cargo planes, including an 8,000% markup for simple lavatory soap dispensers, according to the Pentagon's inspector general.
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Pensions are a major sticking point between Boeing and its striking machinists union. Many workers want the company to restore the pension plan they lost a decade ago, but Boeing hasn’t budged.
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Striking machinists voted to reject an agreement that would have boosted wages by 35%. It’s another blow for Boeing, which reported a $6 billion quarterly loss on Wednesday.
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Boeing reported a staggering loss of $6 billion in the third quarter. The disappointing earnings report comes the same day as striking machinists are voting on a new contract offer.
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The latest proposal includes a 35% general wage increase over four years — bringing it closer to the union's original ask for 40%. Boeing previously offered a 25% raise over the life of the contract.
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Boeing has been losing money for over five years and is now dealing with a strike that has shut down factories in the Seattle area. The staff cuts will include executives and managers, the CEO said.