Boeing Begins Furloughing Employees Amid Strike Concerns
Boeing is taking action to preserve cash amidst an ongoing machinist strike by temporarily furloughing thousands of U.S. executives, managers, and staff. The furloughs will impact tens of thousands of employees as negotiations continue with the striking machinists who rejected a new labor contract. Boeing’s CEO, Kelly Ortberg, announced that affected employees will take one week of furlough every four weeks while he and his team will take pay cuts during the strike. The company’s CFO stated that hiring and raises would be frozen to cut costs, and non-essential contractors would be let go temporarily. The financial impact of the strike remains uncertain, but activities critical to safety, quality, and customer support will be prioritized.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.