For transparency and my own agenda, I strongly dislike the Woke movement and DEI. I would never want to get a position because I am a woman, I want to get the position because I am the most suitable candidate.
The American giant that, like many other companies, organizations, political parties, individuals, etcetera, has been seduced by the Woke movement, has once again hit big problems. The American giant is Boeing Company (The) Common Stock (BA) which has just announced the layoffs of 17,000 employees worldwide, representing 10% of its total workforce according to the Wall Street Journal.
This is in the midst of the machinist strike which has been going on since 13 September 2024, while (BA) warns that the ongoing strike will mean further heavy losses. According to reports, the strike is estimated to cost $1 billion each month. The company also issues a profit warning. A loss of $9.97 per share is expected in Q3 2024. Which is significantly worse than analysts' estimate, which had been for a loss of $1.19.
(BA)'s planned launch of the new 777X aircraft model, already several years behind schedule, will now be further delayed and development of the 767 freighter will be suspended.
Negotiations with the striking Boeing employees, who number about 33,000, broke down this week. The strike has caused the production of aircraft to largely cease. There is no doubt that the current global situation with ongoing inflation control measures, recession and general unrest in the world with many ongoing wars is affecting the company.
At the same time, I am convinced that management's past embrace of DEI has created huge problems within the company and may be its downfall.
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