Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Top 5 moments from Charlie Kirk’s memorial service...
Trump set to approve TikTok deal ensuring majority-American...
Harris is speaking. This time, she isn’t bending...
Hamas letter to Trump asks for 60-day ceasefire...
Trump must make UN funding conditional on real...
Democrats skip Charlie Kirk Arizona memorial after 58...
‘Due to overhelming support:’ Turning Point USA says...
Thune slams Democrats’ ‘cold-blooded partisan’ tactics as funding...
Macron stakes anti-Trump global role with Gaza initiative...
Trump assassination attempt suspect Ryan Routh questions first...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Business

Boeing starts furloughing tens of thousands of employees amid machinist strike

by admin September 19, 2024
September 19, 2024
Boeing starts furloughing tens of thousands of employees amid machinist strike

Boeing will temporarily furlough thousands of U.S. executives, managers and other staff, citing the ongoing machinist strike as the company races to preserve cash, CEO Kelly Ortberg told employees on Wednesday.

The furloughs will affect tens of thousands of Boeing employees, a company spokesperson said.

The plan came less than a week after Boeing’s more than 30,000 machinists in the Seattle area and Oregon overwhelmingly voted down a new labor contract and 96% voted to strike, walking off the job just after midnight on Friday.

Negotiations between the two sides continued this week with a mediator. Boeing had offered a 25% raise and the union endorsed the tentative contract. But some workers told CNBC that the contract offer was rejected because the raises weren’t sufficient enough to match the increase in cost of living in the Seattle area and it didn’t restore their pensions.

Ortberg, who has been in the job for just under six weeks, said in a staff memo that affected employees would take one week of furlough every four weeks for the strike’s duration and he and his team would take “commensurate” pay cuts for the duration of the strike.

“While this is a tough decision that impacts everybody, it is in an effort to preserve our long-term future and help us navigate through this very difficult time. We will continue to transparently communicate as this dynamic situation evolves and do all we can to limit this hardship,” Ortberg said in his message.

Boeing’s CFO Brian West earlier this week said the company would freeze hiring and raises to cut costs, and would let “non-essential contractors” go temporarily.

The financial impact of the strike will depend how long it lasts, West said, but it adds to pressure on Boeing’s leaders, who are trying to move the company past safety and quality crises, including the fallout from a near-catastrophic door-plug blowout in January, and $60 billion in debt.

Ortberg said that “activities critical to our safety, quality, customer support and key certification programs will be prioritized and continue” including production of its 787 Dreamliners, which are made in a non-union facility in South Carolina.

This post appeared first on NBC NEWS

previous post
Tulsi Gabbard says she would be ‘honored’ to join a potential Trump administration
next post
Bold Ventures Announces Closing of Third Tranche, Extension of Non-Brokered Private Placement, and Insider Subscriptions

You may also like

Paramount mandates 5-day-a-week return to office ahead of...

September 5, 2025

Trump’s tariff threats send U.S. companies scrambling for...

November 14, 2024

Italian chocolate giant Ferrero to buy Kellogg’s Froot...

July 11, 2025

Bumble shares jump 26% as dating company plans...

June 27, 2025

Trump Media stock sinks to new post-merger low

August 22, 2024

Procter & Gamble to cut 7,000 jobs as...

June 13, 2025

Chipotle to expand to Mexico amid Trump trade...

April 22, 2025

Trump Media plummets 10% as post-lockup selloff picks...

September 24, 2024

Retailers scramble to move billions in cargo as...

October 1, 2024

Paramount mandates 5-day-a-week return to office ahead of...

September 11, 2025

Recent Posts

  • Top 5 moments from Charlie Kirk’s memorial service in Arizona
  • Trump set to approve TikTok deal ensuring majority-American investor control: White House
  • Harris is speaking. This time, she isn’t bending to Biden’s bullies
  • Hamas letter to Trump asks for 60-day ceasefire deal to release half of hostages, sources say
  • Trump must make UN funding conditional on real reforms, ex-diplomat urges

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (927)
    • Investing (3,032)
    • Politics (3,709)
    • Stock (4)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 Sightful Invest. All Rights Reserved.