Boeing 737 Max disclosures put shareholders before workers, union rep says

View photosAirplane fuselages bound for Boeing’s 737 Max production facility sit in storage at their top supplier, Spirit AeroSystems Holdings Inc, in Wichita, Kansas, U.S. December 17, 2019. REUTERS/Nick OxfordUnion workers who assemble parts of Boeing’s (BA) 737 Max fuselage are weighing whether to voluntarily leave their jobs, without compensation, and without information as to when the…

Boeing 737 Max disclosures put shareholders before workers, union rep says

View photosAirplane fuselages bound for Boeing’s 737 Max production facility sit in storage at their top supplier, Spirit AeroSystems Holdings Inc, in Wichita, Kansas, U.S. December 17, 2019. REUTERS/Nick OxfordUnion workers who assemble parts of Boeing’s (BA) 737 Max fuselage are weighing whether to voluntarily leave their jobs, without compensation, and without information as to when the aircraft will go back into production.Spirit AeroSystems (SPR), one of Boeing’s largest suppliers, which manufacturers 70% of the Max fuselage, asked all of its hourly employees via email Monday to submit to a voluntary layoff. The company’s President and CEO Tom Gentile, in a letter to workers, said the reduction in workforce was necessary given Boeing’s planned temporary halt of the Max production line, slated for this month. The plane has been grounded by the Federal Aviation Administration since March 2019, after two fatal crashes that killed 346 people.International Association of Machinists and Aerospace Workers district president, Cornell Beard, whose local chapter represents the majority of Spirit AeroSystem’s Max team workers, said the union’s members lack sufficient information to make an informed choice in response to the company’s request. And while the request was made in accordance with the union’s collective bargaining agreement, he said any indication of how long the proposed layoff would last is critical to employees.“I think that if, if an actual timeline was put out there, it would affect the stocks, so putting that type of information out too early, would be devastating on stocks, but helpful to the employees that work there,” Beard, IAMAW District Lodge 70 president and director of business representative, told Yahoo Finance. “It’s more about the stocks and the shareholders, rather than the people that actually helped them get what they make.” IAMAW workers who manufacture Max parts for Spirit AeroSystems average an hourly wage of $20, Beard said.Asked whether he believed Boeing had been too aggressive in setting expected timeframes for the Max’s return to service, he said, “I think they lost their grip a long time ago. I think that all the other stuff that they have been putting out as far as the dates go, have all been B.S. to keep the stocks level. There’s no way you could know if the FAA is
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