Boeing Considering Temporary Layoffs
Source: Stephen Brashear / Getty
Boeing plans to freeze hiring, reduce travel, and considering temporary layoffs to save cash during a facility strike.
The Chief Financial Offer, Brian West, made a statement into why they made these changes are necessary at the moment. He stated that their business is in a difficult spot. He also said that the strike jeopardize our recovery in a significant way.
About 33,000 workers participated in the strike early Friday morning. The walkout came after workers rejected an offer of a 25% increase in pay over four years. The union was expecting 40%. Workers are also upset with the fact that Boeing ended its traditional pension plan and lowered health care benefits.
The strikes are happening currently in Washington State, Oregon, and California.
Boeing has lost more than $25 billion since the start of 2019, and burned through $4.3 billion in the second quater of 2024. The strike is delaying deliveries of new planes, which are an important source of cash for the company.
Boeing Considering Temporary Layoffs was originally published on rnbphilly.com
