Boeing Freezes Hiring, Cuts Travel, And Weighs Temporary Layoffs Amid Factory Workers' Strike

In order to save money during the industrial workers' strike that started last week, Boeing has decided to freeze hiring, cut back on travel, and contemplate temporary layoffs, the firm informed employees on Monday. 

Reductions in supplier spending are among the steps the corporation said were required since "our business is in a difficult period." In a communication to staff members, Chief Financial Officer Brian West listed ten immediate cost reductions. They include halting all non-essential travel, postponing salary increases for promotions, and freezing hiring at all levels. 

In the upcoming weeks, West stated, “We are also considering the difficult step of temporary furloughs for many employees, managers, and executives.”
Early on Friday, about 33,000 employees who are members of the International Association of Machinists and Aerospace Workers went on strike. Workers rejected a four-year, 25% salary increase offer, which sparked the strike.

The chief of Boeing's commercial aircraft division, Stephanie Pope, urged blue-collar workers to accept the contract offer last week, citing the company's $60 billion total debt. 

However, employees who have expressed their opinions previously and since the vote on the strike on Thursday have stated that they want bonuses that Boeing plans to cut restored, along with hikes of at least 40 per cent.