Boeing Implements Hiring Freeze and Cost Cuts Amid Strike by 33,000 Workers

Sep 16, 2024, 03:11 PM

Boeing has announced a series of cost-cutting measures in response to a strike by approximately 33,000 factory workers, mainly in Seattle. The aerospace giant is instituting a hiring freeze, halting non-essential staff travel, and considering temporary furloughs for employees. Additionally, Boeing is suspending orders for parts of its 737, 767, and 777 jets, as well as pausing non-essential capital expenditures and facilities spending. The strike, which began after workers rejected a labor deal, poses significant financial challenges for the company, with CFO Brian West emphasizing the need to preserve cash and safeguard the company's future in an internal memo.