**Boeing Announces Massive Layoffs Amidst Criticism Over Stock Buybacks**

Boeing, the aerospace giant, has unveiled plans to reduce its workforce by nearly 10% in the upcoming months, a decision that has sparked considerable criticism, especially in light of the company’s extensive expenditure on stock buybacks in recent years. This move, under the leadership of newly appointed CEO Kelly Ortberg, is expected to affect approximately 17,000 workers.

From 2010 to 2019, Boeing allocated an estimated $68 billion on share repurchases and dividends, a figure that underscores critics' claims that layoffs and inadequate worker compensation are not as unavoidable as the company suggests. Les Leopold, executive director of the Labor Institute, commented on the situation, saying, "Boeing is in trouble because it became a manufacturer of stock buybacks, not just planes." He emphasized the repetitive nature of corporate strategies, which frequently resort to workforce reductions.

CEO Ortberg, who took over in August after the previous CEO left amidst safety concerns and took home a $45 million golden parachute, has cited the need to align workforce levels with financial realities. In a message to employees, Ortberg, who is set to earn $22 million in total compensation the next year, outlined plans to delay the new 777X jet and stop production of 767 freighters. He acknowledged the impact of these decisions on employees and their families but deemed them necessary for the future recovery of the business.

The announcement comes at a tense moment, as Boeing suspended contract negotiations with striking machinists, who have been on strike for a month. The company has criticized the union's demands as excessive, which has not sat well with many, including former U.S. Labor Secretary Robert Reich. Reich pointed out the company's double standards, noting the significant sums spent on dividends and stock buybacks and the hefty payouts to its CEOs.

Jon Holden, president of District 751 of the International Association of Machinists and Aerospace Workers, accused Boeing management of abandoning the negotiation table and trying to sway public opinion through the media. He called for the company to engage in serious bargaining to end the strike, emphasizing that the resolution requires a negotiated contract that addresses the workers' needs.

Critics like Leopold have even gone as far as to urge political figures, such as Vice President Kamala Harris, to take a stand against corporate practices that favor stock buybacks and layoffs, especially when taxpayer money, like the nearly $15 billion Boeing received from Pentagon contracts in 2022, is involved. The unfolding events at Boeing highlight ongoing tensions between corporate practices and labor rights, pointing to a broader debate about the future of American manufacturing and labor relations.