Amidst a machinist strike, Boeing initiates furloughs for thousands of employees.

• Earlier this week, Boeing's CFO Brian West announced that the company would temporarily let "non-essential contractors" go and freeze hiring and raises to cut costs.
• More than 30,000 Boeing machinists rejected a contract and opted to strike, prompting the implementation of cost-saving measures.

On Wednesday, CEO Kelly Ortberg informed employees that the company will furlough a "large number" of U.S. executives, managers, and other staff due to the ongoing machinist strike and the need to conserve cash.

A company spokesperson stated that tens of thousands of Boeing employees will be affected by the furloughs.

Boeing's plan was announced less than a week after its machinists in the Seattle area and Oregon rejected a new labor contract and 96% voted to strike, leaving the company with no choice but to walk off the job just after midnight on Friday.

Ortberg announced that employees affected by the strike would take a one-week furlough every four weeks, while he and his team would take pay cuts that are "commensurate" with the strike's duration.

Ortberg stated that the decision, although challenging and affecting everyone, is necessary to safeguard our long-term future and guide us through the present crisis. He assured that they would maintain transparency in their communication and take all necessary steps to minimize the impact of the situation.

Earlier this week, Boeing's CFO Brian West announced that the company would temporarily let "non-essential contractors" go and freeze hiring and raises to cut costs.

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