Reported 22 days ago
Boeing has announced a hiring freeze and is considering temporary furloughs for employees due to a prolonged strike at its primary location near Seattle. In a memo to staff, CFO Brian West outlined various cost-cutting measures aimed at preserving cash flow amidst the ongoing labor dispute, which has brought jetliner production to a halt. The company is facing significant financial challenges, with estimates of cash burn reaching $500 million weekly while the strike continues, placing its credit rating at risk.
Source: YAHOO