Boeing Shares Bloom In Green As It Looks To Raise $15 Billion Amid Looming Job Cuts

Boeing has had a tumuluous few quarters in the recent past, from its myriad safety concerns to mysterious deaths of witnesses, testifying in cases related to their impropriety, to the grand debacle in space failing to get its famed astronauts back to earth, it has been one controversy after the other.

17,000 Jobs To Be Cut

In the recent past, the makers of the controversial 737 Max were beleaguered by a union-led strike which saw nearly 33,000 workers take on the company with their strike, which started on September 13.

Another development has brought Boeing back to the headlines. Last week reports emerged that Boeing is planning to implement cost-cutting measures to shore up its resources and benefit its shareholders.

This move also involves the layoff of over 17,000 of its employees. Boeing is one of the United States' largest employers. This decision naturally invoked sharp responses from the ones affected.

Boeing To Raise USD 15 Billion

In addition, the struggling company also intends to raise an amount of USD 15 billion with the help of common shares and a mandatory convertible bond.

However, this appears to have encouraged investors in the market, as the company shares continue to trade in green. On Wednesday, the company shares closed in green.

Company Shares On The Rise

The shares of the aircraft giant grew by 1.67 per cent or USD 2.55, in the intraday trade. The stock price closed for the day at USD 154.90 per piece.

Boeing shares performance on Wednesday

The company's shares made greater progress in the past 5 trading sessions, with an uptick of 3.89 per cent or USD 5.80.

Boeing shares performance over the past 6 months.

This comes after times of decline; the company shares have dipped by 8.99 per cent in the trading activities of the past 6 months.

Boeing in the past has been accused by many commentators of preferring to shore up support at the front of its shareholders, boosting numbers, often at the cost of quality and most importantly safety.