Boeing CEO Kelly Ortberg stated that all benefits will continue for furloughed employees. [Credit: Shutterstock]
Key Takeaways:
Boeing is implementing temporary furloughs for many U.S.-based executives, managers, and employees, following an earlier hiring freeze.
These measures are a direct response to the ongoing strike by over 30,000 IAM workers, which has paused production and is projected to cost Boeing up to $3.5 billion.
CEO Kelly Ortberg and his leadership team will take pay cuts, with furloughed employees retaining benefits and taking a rolling one-week furlough, as the company aims to preserve cash while continuing critical operations like safety and 787 production.
Two days after announcing a hiring freeze, Boeing has notified employees it will be moving forward with furloughs over the coming days.
This comes after over 30,000 workers with the International Association of Machinists and Aerospace Workers (IAM) rejected a contract renewal with the company and went on strike last week.
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Caleb Revill is a journalist, writer and lifelong learner working as a Junior Writer for Firecrown. When he isn't tackling breaking news, Caleb is on the lookout for fascinating feature stories.
