Will begin furloughs soon to save cash during labour strike: Boeing CEO
Chief Executive Kelly Ortberg said the layoffs would be temporary and affect executives, managers and other employees
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The furloughs are expected to affect tens of thousands of Boeing employees. Ortberg said employees will be furloughed for one week every four weeks, and he and other senior executives will take pay cuts during the duration of the strike. (Photo: Reuters)
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Boeing's CEO said Wednesday that the company will begin furloughing a large number of employees to conserve cash during the strike by union machinists that began last week.
Chief Executive Kelly Ortberg said the layoffs would be temporary and affect executives, managers and other employees.
About 33,000 Boeing factory workers in the Pacific Northwest began a strike Friday after rejecting a proposal to raise pay by 25 per cent over four years. They want raises of at least 40 per cent and other improvements in the deal that they voted down.
The furloughs are expected to affect tens of thousands of Boeing employees. Ortberg said employees will be furloughed for one week every four weeks, and he and other senior executives will take pay cuts during the duration of the strike.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Sep 18 2024 | 11:44 PM IST