• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Boeing freezes hiring in sweeping cost cuts as it grapples with factory worker strike

by September 17, 2024
written by September 17, 2024

Boeing announced sweeping cost cuts Monday, including a hiring freeze, a pause on nonessential staff travel and a reduction on supplier spending to preserve cash as it deals with a strike by more than 30,000 factory workers.

Boeing factory workers, mostly in the Seattle area, started walking off the job early Friday after overwhelmingly rejecting a tentative labor deal, halting most of Boeing’s aircraft production.

The manufacturer will make “significant reductions” to supplier spending and stop most purchase orders for its 737 Max, 767 and 777 jetliners, CFO Brian West said in a note to staff. It was the first clear sign of how the strike will affect the hundreds of suppliers that rely on Boeing work.

The financial impact of the strike will depend on how long it lasts, but Boeing is focused on conserving cash, West said at a Morgan Stanley conference Friday. He said the company’s new CEO, Kelly Ortberg, wants to get back to the bargaining table right away to reach a new deal.

“We are also considering the difficult step of temporary furloughs for many employees, managers and executives in the coming weeks,” West said.

On Friday, Moody’s put all of Boeing’s credit ratings on review for a downgrade and Fitch Ratings said a prolonged strike could put Boeing at risk of a downgrade. That could drive up the borrowing costs of a manufacturer that already has mounting debt.

Boeing burned about $8 billion in the first half of the year as production slowed in the wake of a near-catastrophic door-panel blowout at the start of the year.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Legal experts warn that latest Supreme Court leaks are ‘enormously destructive’
next post
Brazilian mayoral candidate hospitalized after rival attacks him with metal chair: Watch

related articles

Customers sue sneaker company On over shoes that...

October 20, 2025

Giorgio Armani group names longtime executive Giuseppe Marsocci...

October 17, 2025

LendingTree founder and CEO Doug Lebda dies in...

October 15, 2025

UPS is ‘disposing of’ U.S.-bound packages over customs...

October 13, 2025

China outlines more controls on exports of rare...

October 10, 2025

Paramount acquires Bari Weiss’ The Free Press, naming...

October 7, 2025

YouTube to pay $24 million to settle Trump...

October 1, 2025

Charlie Javice sentenced to 7 years in prison...

October 1, 2025

Video game maker Electronic Arts to be acquired...

October 1, 2025

Nearly 200,000 BMWs recalled over potential fire risk

September 30, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Trump tells Schumer to ‘GO TO HELL’ over Senate nominee deal funding demands after negotiations collapse

    August 3, 2025
  • DAs may try to charge Jan. 6 participants granted clemency by Trump with new crimes on state, local levels

    January 27, 2025
  • Thune slams Schumer’s ‘kingmaker’ politics, refuses to ‘kiss the ring’ in shutdown talks

    October 17, 2025
  • Explained: What’s the reason for global stock sell-off and who’s to blame?

    August 5, 2024
  • IRS to slash nearly 7K employees starting Thursday: reports

    February 20, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,506)
  • Investing (634)
  • Stock (941)

Latest Posts

  • Trump pushes to ‘restore truth in American History,’ end DEI at Smithsonian

    March 28, 2025
  • EURUSD and GBPUSD: Euro under pressure drops below

    September 27, 2024
  • US to expedite nuclear-powered subs to Australia that will sit near China’s doorstep

    October 20, 2025

Recent Posts

  • ApeCoin and Akita Inu: Price and Target Overview

    September 25, 2024
  • Moderate Dem undercuts Jeffries on ObamaCare compromise as government shutdown wears on

    October 8, 2025
  • Trump wants ‘activist’ groups that sue the government to put up money if they lose

    March 6, 2025

Editor’s Pick

  • Democratic lawmakers criticize Israel’s defensive strikes against Iran’s nuclear sites

    June 13, 2025
  • Trump blasts DOJ for ‘election interference,’ calls Jack Smith case a ‘scam’ after judge unseals key filing

    October 3, 2024
  • Kohl’s Shares Plunge 11%

    November 26, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock