On Monday (Nov. 18), Boeing (BA) announced it would cut 2,500 workers in Washington State, Oregon, South Carolina, and Missouri as part of a plan to trim 10 percent of its global workforce, affecting 17,000 jobs. Boeing shares climbed 2.6 percent following the announcement and has gained more than 6 percent as of Friday’s close.The small bump was likely a relief to Boeing executives who have seen the company’s share price plummet 40 percent this year.
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Boeing is in the middle of a financial and reputational crisis that could threaten the legacy of the iconic American company. “I would not buy [Boeing stock] at any price. The company is in serious, serious trouble,” Aswath Damodoran, a finance professor at New York University and a renowned valuation expert, said on the Prof G Markets podcast recently. “I’ve never seen a company blow up its reputation as thoroughly and as completely as Boeing has done over the last........