Boeing Initiates Massive Furloughs Amid Largest U.S. Strike in 16 Years

The aerospace giant is furloughing tens of thousands of employees as 33,000 machinists demand higher wages and better benefits.

Boeing CEO Kelly Ortberg announced that U.S.-based executives, managers, and employees will take one week of furlough every four weeks during the ongoing strike.
The strike, which began on September 13, has halted production of Boeing's 737 MAX, 777, and 767 aircraft, significantly impacting the company's cash flow.
Union members rejected a contract offering a 25% wage increase over four years, demanding a 40% raise and the reinstatement of traditional pensions.
Federal mediators are involved in the negotiations, but union representatives have expressed frustration over Boeing's preparedness and willingness to address key issues.
Boeing has implemented additional cost-cutting measures, including a hiring freeze, reduced supplier spending, and travel restrictions, to mitigate the financial strain.