Boeing CEO says the company will begin furloughs soon to save cash during labor strike

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Boeing’s CEO says the company will begin laying off a large number of employees to save cash during the strike by union machinists.

Jacksonville joins global partnership as Fast-Track City in fight against HIV/AIDSGeorgia woman killed in Jacksonville hit-and-run remembered as ‘devoted worker’ during vigil TuesdayFamily savings start with a Sam’s Club Membership for $15Boeing workers wave picket signs as they strike after union members voted to reject a contract offer, Sunday, Sept. 15, 2024, near the company's factory in Everett, Wash.

The strike is halting production of several Boeing models, including its best-selling plane, the 737 Max. The company gets more than half of the purchase price when new planes are delivered to buyers, so the strike will quickly hurt Boeing’s cash flow. “However, with production paused across many key programs in the Pacific Northwest, our business faces substantial challenges and it is important that we take difficult steps to preserve cash and ensure that Boeing is able to successfully recover,” he said.

 

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