Boeing Co (BA) Turns to Retirees to Help With Production Bottleneck

NYSE: BA | Boeing Company (The) Common Stock News, Ratings, and Charts

BA – The company is leaning on experienced hands to help work through issues at a plant in Washington state.

Boeing Co (NYSE:BA) has been working through a production bottleneck at its plant in Renton, Washington, but it sounds like the company has found a way to make things run smoother. The industrial giant has called back retired workers to help it sort through the issues and make the delays a thing of the past. 

CNBC has the news on Boeing.

Boeing is bringing retired workers back on the job as the world’s largest planemaker tries to fix delays at its 737 jetliner plant outside Seattle, a union official told Reuters on Monday.

The snarl at its plant in Renton, Washington, triggered by shortages of engines and fuselages as Boeing sped production to record levels in June, is likely to hurt third-quarter results and threatens its goal to boost build rates again in 2019, some analysts said after meetings in the Seattle area last week.

All told, Boeing has deployed nearly 600 employees and newly-hired workers to the Renton facility. It’s unclear exactly how many of them are retirees.

Boeing spokesman Paul Bergman acknowledges that the company is dedicating additional resources to that particular plant “to ensure timely deliveries to our customers.”

Boeing Co shares rose $0.34 (+0.10%) in premarket trading Friday. Year-to-date, BA has gained 22.33%, versus a 9.91% rise in the benchmark S&P 500 index during the same period.

BA currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 72 stocks in the Air/Defense Services category.

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