Boeing (BA) has released its preliminary third quarter earnings results, projecting a larger-than-expected loss. The aerospace giant also announced plans to cut approximately 17,000 jobs, representing 10% of its workforce. To discuss Boeing’s outlook amid these challenges, including the ongoing worker strike and the recent CEO change, Barron’s associate editor Al Root joins Morning Brief. Root characterizes the current Boeing strike as "a metaphor for everything that’s gone wrong" at the company over the past decade. He emphasizes that even if the strike were to end immediately, the announced layoffs would still proceed, as they are part of a strategy to "position the company for a brighter future." The editor also points out that Boeing has yet to overcome "the worst of" the impacts on its balance sheet due to the ongoing strike. This situation continues to create significant cash flow and production challenges for the airline manufacturer. With the arrival of the new CEO, Root says, "It’s about repairing relationships with employees and building the planes." However, he adds, "The good news or the silver lining for Boeing is their customers have almost literally nowhere to go."
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