Boeing will send out notices of layoffs next month as part of a two-round process. The layoffs will impact 10% of the workforce, which represents about 17,000 employees.
Round one of 60-day layoff notices to staff in the Boeing Commercial Airlines (BCA) division will be November 17. Round two will be send on December 9. That means the last day for employees informed in round one will be January 17, 2025. For round two employees, their last day will be February 21, 2025.
Boeing previously announced weekly furloughs. The last week of the first wave of those furloughs finishes this week for BCA and next week for most other business units. Then furloughs are done due to the pending layoffs, according to multiple Boeing sources speaking on the condition of anonymity to "The Jason Rantz Show" on KTTH.
The initial plan was for staff to see weekly furloughs through December. BCA started ahead of the other business units.
Eventually, Boeing Defense, Space & Security will be impacted, but it's unclear in what capacity. Officials in D.C. worry that the strike will impact national security with Boeing's KC-46 Pegasus tanker being impacted. These tankers are modified from Boeing 767s, production of which has been halted with the strike.
What happens is contingent on how long the strike continues.
This week the striking machinists rallied at IAM 751 Union Hall in South Seattle. They are seeking a 40% pay increase and a pension. Boeing previously offered a 30% increase, higher matching investments in 401(k) funds, but no pension.
Democrat politicians attended the rally to provide speeches in support, but Senator Maria Cantwell, who is up for re-election, didn't get the warm welcome she had hoped when she waded into presidential political waters.
Cantwell complained that housing "is expensive as all get out" because "we haven't built enough supply." She then claimed she was in a "key negotiation" around a bipartisan bill that she claims would have built millions of housing units by now.
"But Donald Trump came in and squashed that deal," Cantwell argued.
A large group of Boeing machinists responded by booing Cantwell, one screaming "bulls***." Cantwell was visibly surprised, and attempted to win the audience back. Afterward, she quickly wrapped up her speech.
One of the union members there told "The Jason Rantz Show" on KTTH that he helped lead the reaction.
"She thought she was playing to left-wing democratic supporters, but quickly discovered she was wrong," he wrote. "I'd say eight out of 10 IAM751 union guys I work with are PRO TRUMP!"
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While some union members believe the layoffs are a ploy to put pressure on them to accept a deal they don't support, Boeing is making rather drastic financial decisions to stay afloat.
As reported in the Wall Street Journal and MyNorthwest, Boeing just received a $10 billion bank credit line and will sell at least $10 billion in new shares to have enough funds to handle the current strike crisis. The company may reportedly even issue up to $25 billion in shares or debt over the next three years.
"These are two prudent steps to support the company's access to liquidity," Boeing said per the Wall Street Journal.
"We need to be clear-eyed about the work we face and realistic about the time it will take to achieve key milestones," Boeing Chief Executive Kelly Ortberg told employees last week when announcing the layoffs.