The US aerospace major, Boeing, is reportedly exploring options to sell its non-core or underperforming units in a bid to reinforce its strained finances.
The company reached an agreement to divest a defence unit which manufactures surveillance equipment for the US military, WSJ reported.
According to reports, Boeing’s newly appointed CEO, Kelly Ortberg, asked the heads of the company’s business units to share the market value of their respective divisions.
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Labour strike
The move comes nearly five weeks after the strike involving over 33,000 of Boeing’s US West Coast workers over demands for pay increases, improved employment benefits, and the reinstatement of a defined benefit pension, further exacerbating the company’s ongoing operational and financial challenges.
The walkout, led by the International Association of Machinists and Aerospace Workers (IAM), Boeing’s largest worker union, has halted production of the company’s 737 MAX, 777, and 767 aircraft. Â
To counterweight the impacts of the work stoppage, Boeing announced plans to cut 17,000 jobs, representing nearly 10% of its global staff, as well as delay the initial deliveries of its 777X aircraft by another year.
The IAM has reportedly resumed unofficial talks with the company after previous discussions failed to achieve meaningful progress, especially after Boeing filed an unfair-labour-practice charge with the National Labor Relations Board, accusing the union of not bargaining in good faith.
The IAM is set to vote on Wednesday on a new tentative deal offering a 35% pay increase over four years.
