Boeing Co. (NYSE:BA) has started temporary furloughs for thousands of employees as it grapples with the financial impact of a machinists union strike.
What Happened: In a memo to employees, Boeing CEO Kelly Ortberg stated that the furloughs, affecting U.S.-based executives, managers, and employees, will occur one week out of every four until the strike concludes. Ortberg and his leadership team will also take pay cuts, The Washington Post reported on Wednesday.
“With production paused across many key programs in the Pacific Northwest, our business faces substantial challenges and it is important that we take difficult steps to preserve cash and ensure that Boeing is able to successfully recover,” Ortberg stated.
The strike, initiated by the 33,000-member International Association of Machinists and Aerospace Workers, began after rejecting Boeing’s offer. The union demands a 40% pay increase and the …
Full story available on Benzinga.com
Boeing Co. (NYSE:BA) has started temporary furloughs for thousands of employees as it grapples with the financial impact of a machinists union strike.
What Happened: In a memo to employees, Boeing CEO Kelly Ortberg stated that the furloughs, affecting U.S.-based executives, managers, and employees, will occur one week out of every four until the strike concludes. Ortberg and his leadership team will also take pay cuts, The Washington Post reported on Wednesday.
“With production paused across many key programs in the Pacific Northwest, our business faces substantial challenges and it is important that we take difficult steps to preserve cash and ensure that Boeing is able to successfully recover,” Ortberg stated.
The strike, initiated by the 33,000-member International Association of Machinists and Aerospace Workers, began after rejecting Boeing’s offer. The union demands a 40% pay increase and the …
Full story available on Benzinga.com
Boeing Co. (NYSE:BA) has started temporary furloughs for thousands of employees as it grapples with the financial impact of a machinists union strike.
What Happened: In a memo to employees, Boeing CEO Kelly Ortberg stated that the furloughs, affecting U.S.-based executives, managers, and employees, will occur one week out of every four until the strike concludes. Ortberg and his leadership team will also take pay cuts, The Washington Post reported on Wednesday.
“With production paused across many key programs in the Pacific Northwest, our business faces substantial challenges and it is important that we take difficult steps to preserve cash and ensure that Boeing is able to successfully recover,” Ortberg stated.
The strike, initiated by the 33,000-member International Association of Machinists and Aerospace Workers, began after rejecting Boeing’s offer. The union demands a 40% pay increase and the …Full story available on Benzinga.com Read MoreBA, Equities, Kaustubh Bagalkote, Kelly Ortberg, News, Markets, BA, US0970231058, News, Equities, Markets, Benzinga Markets
