Boeing's chief executive Kelly Ortberg announced that the company will begin furloughing tens of thousands of employees due to a major strike by its largest union, significantly impacting production.
The strike, which has affected production across many key programs in Boeing's Seattle-area facilities, has prompted the company to initiate necessary cost-cutting measures amid potential billion-dollar losses.
Ortberg emphasized the necessity for difficult actions to preserve cash during the ongoing strike, stressing that the challenges faced by Boeing could jeopardize its recovery efforts.
While the furloughs will affect many employees, Ortberg indicated that certain workers, particularly engineers, remain on duty to ensure critical operations continue despite the labor unrest.
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