**Boeing's Struggles Deepen as Ortberg Faces Mounting Challenges**

Boeing Co., one of the icons of US manufacturing, is grappling with a relentless series of crises that have plagued the company since the start of the year, showing no signs of abating. New CEO Kelly Ortberg, who took the reins in August, has been thrust into the eye of the storm, undertaking significant steps to steer the beleaguered manufacturer towards stability.

The past months have been particularly tumultuous for Boeing. A freak accident left a door-sized hole in the fuselage of an airborne 737 Max, exposing severe lapses in quality control. Subsequent revelations of subpar workmanship have further damaged the company's reputation. To add to the woes, a crippling strike has dragged into its second month, exacerbating the company's financial difficulties.

Boeing's cash reserves are dwindling rapidly, plane production has drastically slowed, and the stock is plummeting to its lowest levels since the financial crisis of 2008. The mounting challenges have highlighted deep-rooted issues within Boeing's operations and supply chain, revealing a corrosive culture shaped by decades of cost and schedule pressures.

Ortberg has acted decisively in his short tenure, making notable changes in the leadership team, including the removal of the head of the defense and space division. His effort to resolve the ongoing strike by presenting a higher offer directly to workers, however, backfired, only solidifying the union's stance.

On October 11, Ortberg announced a substantial workforce reduction of 10%, equivalent to approximately 17,000 jobs, indicating the need for more drastic measures to set Boeing on a path to recovery. "We need to be clear-eyed about the work we face and realistic about the time it will take to achieve key milestones on the path to recovery," Ortberg stated in a memo to employees.

As Ortberg prepares for his first earnings call as CEO on October 23, investors are eager for details on his comprehensive strategy to revive Boeing, beyond merely addressing immediate crises. The potential challenges ahead are significant, with Boeing facing a tough battle to regain its footing.

The company has been warned by rating agencies about the risk of slipping below investment grade, which would place Boeing in a precarious position financially. The urgency to secure fresh financing is growing, especially with the fiscal toll of the strike further straining resources.

Boeing is poised to report $5 billion in combined charges for its largest business units in the third quarter, alongside additional costs for delays in the 777X model. The recent strike has disrupted production plans that were supposed to improve cash flow, while the defense and space division continues to incur heavy losses.

Moreover, Boeing's deteriorating relationship with Spirit AeroSystems Holdings Inc., a key supplier, presents yet another challenge. The company had previously spun off Spirit in a move that has since proven detrimental to manufacturing quality.

Ortberg's tenure has so far seen efforts to build camaraderie among employees, cutting his own and senior management's pay in solidarity with furloughed workers. However, the decision to announce job cuts amidst ongoing labor negotiations could further antagonize the workforce, raising concerns about prolonged disruption.

The company's strained internal dynamics and the cascading impacts of the strike on Boeing's supply chain present a formidable array of challenges for Ortberg. Boeing's turnaround is likely to be slow and arduous, with much depending on resolving ongoing disputes and improving organizational cohesion.