From CNBC: 2024-09-18 13:57:36

Boeing to furlough thousands of U.S. executives and staff due to machinist strike, affecting tens of thousands of employees. Union rejected contract offer citing insufficient raises and lack of pension restoration. CEO Ortberg and team to take pay cuts during strike. CFO West freezes hiring and raises to cut costs. Airline facing $60 billion debt.

Strike impact on Boeing’s financials depends on duration. Company prioritizing safety, quality, customer support, and production of 787 Dreamliners amidst strike. Employees to take one-week furlough every four weeks during strike. Union expresses frustration after failed mediation. Boeing leaders working to move past safety and quality issues.



Read more at CNBC: Boeing starts furloughing ‘large number’ of employees amid strike