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Strike Impact

All articles tagged with #strike impact

business1 year ago

Spirit AeroSystems Faces Uncertain Future Amid Operational Doubts

Spirit AeroSystems has expressed 'substantial doubt' about its ability to continue operating due to financial strain exacerbated by a recent strike by Boeing machinists. The company, which is Boeing's largest supplier, is facing cash flow issues and requires additional liquidity to sustain operations over the next year. Boeing's plans to acquire Spirit in an all-stock deal come as it seeks to resume production of the 737 MAX following the strike's conclusion. Spirit is exploring options to address its financial challenges, while hundreds of its workers face furloughs.

via KWCH|
#aerospace-industry#boeing#business
business1 year ago

Spirit AeroSystems Faces Uncertain Future Amid Financial Struggles

Spirit AeroSystems, a major supplier for Boeing, has expressed significant concerns about its financial viability, citing a substantial cash burn exacerbated by a recent strike at Boeing's US factories. The company's cash reserves have dwindled to $218 million, and it has fully utilized a $350-million bridge loan. This financial strain comes as Boeing aims to ramp up production of its 737 MAX following the strike's resolution.

via Yahoo Finance|
#737-max#boeing#business
entertainment2 years ago

SAG-AFTRA and Studios Reach Agreement on Union's Goals

Warner Bros. Discovery CEO David Zaslav stated that the studios' offer in the SAG-AFTRA negotiations has met almost all of the union's goals, including the highest wage increase in 40 years. Zaslav expressed hope for a resolution soon and emphasized the importance of valuing and rewarding creative partners. The ongoing strike has impacted WBD's bottom line, with reduced original content schedules and declining revenues. The company expects a negative impact on earnings due to the strike's duration, but also anticipates positive cash flow from the inability to deploy cash during the strike.

via Hollywood Reporter|
#david-zaslav#entertainment#sag-aftra-negotiations