DALLAS (AP) — Boeing plans to freeze hiring and reduce travel and is considering temporary layoffs to save cash during the factory workers’ strike that began last week.
The company told employees Monday that the moves, which include reduced spending on suppliers, are necessary because “our business is in a difficult period.”
Chief Financial Officer Brian West detailed 10 immediate cutbacks in a memo to employees.
“We are also considering the difficult step of temporary furloughs for many employees, managers and executives in the coming weeks,” West said.
West said Boeing’s business is in a difficult spot, and “This strike jeopardizes our recovery in a significant way.”
About 33,000 workers represented by the International Association of Machinists and Aerospace Workers began a strike early Friday. The walkout came after workers rejected an offer with pay raises of 25% over four years.