The pandemic spiked logistics costs and stalled production globally. It also caused severe damage to the financials of aerospace and defense (A&D) companies, triggering cost-cutting measures and layoffs. The Boeing Company (BA) registered a $663 million loss in the fourth quarter of fiscal 2022 due to labor and supply strains.
Moreover, despite the industry experiencing a robust recovery, BA’s executives have been reluctant to ramp up aircraft production until the supply chain has steadied. The company is also expected to cut roughly 2,000 white-collar jobs this year.
