Boeing’s CEO says the company will begin laying off a large number of employees to save cash during the strike by union machinists.
Crime Stoppers offers reward for arrest in fatal NW Side hit-and-runGet ready to travel this fall with these Insider DealsBoeing workers wave picket signs as they strike after union members voted to reject a contract offer, Sunday, Sept. 15, 2024, near the company's factory in Everett, Wash. Recommended VideosFriday after rejecting a proposal to raise pay by 25% over four years. They want raises of at least 40% and other improvements in the deal that they voted down.
The strike is halting production of several Boeing models, including its best-selling plane, the 737 Max. The company gets more than half of the purchase price when new planes are delivered to buyers, so the strike will quickly hurt Boeing’s cash flow. “However, with production paused across many key programs in the Pacific Northwest, our business faces substantial challenges and it is important that we take difficult steps to preserve cash and ensure that Boeing is able to successfully recover,” he said.
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