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When the pandemic took hold in early 2020, air travel plummeted, and many aviation executives believed it would take years for passengers to return in large numbers. Boeing began to cut jobs and encouraged workers to take buyouts or retire early. It ultimately lost about 19,000 employees companywide — including some with decades of experience.

Current and former Boeing employees, most of whom spoke on the condition of anonymity because they were not authorized to speak to reporters and feared retaliation, offered examples of how quality has suffered over the years. Many said they still respected the company and its employees and wanted Boeing to succeed.

“For years, we prioritized the movement of the airplane through the factory over getting it done right, and that’s got to change,” Brian West, the company’s chief financial officer, said at an investor conference last week.

In late 2022, Boeing lost veteran engineers who retired to lock in bigger monthly pension payments, which were tied to interest rates, according to the union that represents them,

“We warned Boeing that it was going to lose a mountain of expertise, and we proposed some workarounds, but the company blew us off,” Ray Goforth, executive director of the union, said in a statement, adding that he thought the company used the retirements as an opportunity to cut costs by replacing veteran workers with “lower-paid entry-level engineers and technical workers.”

the International Association of Machinists and Aerospace Workers union, which represents more than 30,000 Boeing employees, said the average tenure of its members had dropped sharply in recent years. The proportion of its members who have less than six years of experience has roughly doubled to 50 percent from 25 percent before the pandemic.

Now, he’s publicly asking for 25%, to give him more voting power in corporate matters.  

That plan, which became subject to litigation, set numerous stretch goals, including the addition of $600 billion to the company’s market value. It offered him tranches of payouts along the way, giving him options in total to about 10% of the company’s stock, worth around $60 billion Friday after exercising costs. 

“If I allocate time to Tesla—if I overallocate time to Tesla at the expense of making humanity a space-faring civilization—then I’m not sure what would serve the greater good,” Musk said. “But if there were additional economic resources available that could then subsequently be applied to making life multiplanetary, then perhaps that would serve the greater good.” 

Musk surprised many by completing the final tranche of his plan in 2022—to his and investors’ benefit. 

His public airing of his demands were made even more unusual given that he and the board have plenty of reasons to make something work. His unexpected departure would hurt the stock’s value, which would be bad both for his own wealth and for the board responsible for ensuring shareholder value.  

“This is primarily about ensuring the right amount of voting influence at Tesla,” Musk tweeted. “If I have 25%, it means I am influential, but can be overridden if twice as many shareholders vote against me vs for me. At 15% or lower, the for/against ratio to override me makes a takeover by dubious interests too easy.”