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What will be Boeing's stock price at the end of 2024?
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Closing stock price on December 31, 2024, from a reliable financial market data source
Story
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.
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