Boeing seeks to sell off assets in desperate attempt to stay aloft

Financial Strategy - Boeing is exploring asset sales to improve its fragile finances by shedding non-core or underperforming units [1] - The company recently reached an agreement to sell a small defense unit that manufactures surveillance equipment for the U S military [1] - Boeing announced plans to cut 17 000 jobs or 10% of its global workforce and take $5 billion in charges [3] Leadership and Operational Challenges - Boeing's CEO has departed and production has slowed due to regulatory investigations into its safety culture [2] - New CEO Kelly Ortberg has asked unit heads to outline the value of their units to the company during recent financial-performance meetings [2] - The company's board recently met to discuss next steps with directors questioning division heads and reviewing reports on the state of each unit [2] Labor and Production Issues - 33 000 union workers went on strike in September halting production of Boeing's best-selling 737 MAX and its 767 and 777 widebodies [2] - Striking machinists are set to vote on a new contract proposal that includes a 35% pay hike over four years [2] - The work stoppage has added pressure to Boeing's already weak finances [2]