Boeing to repay lost wages for furloughed workers, layoffs on track
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Contributor since / Followers
Contributor since / Followers
2 weeks ago
Stephen Brashear
- Boeing (NYSE:BA) will repay lost wages for employees that were furloughed during the seven-week strike, but will continue with its plan to reduce 10% of its global workforce.
- The planemaker temporarily furloughed several employees after 33,000 union workers began their strike in September and halted production of its best-selling 737 Max as well as other jets. It later said it would cut its workforce by about 10%.
- “As we navigated through the work stoppage, we asked many of you to take a furlough to support our cash conservation efforts,” Boeing (BA) CEO Kelly Ortberg told employees in an email viewed by Seeking Alpha. “We want to acknowledge your support by returning your lost pay if you went on unpaid furlough.”
- “We will continue forward with our previously announced actions to reduce our workforce levels to align with our financial reality and a more focused and streamlined set of priorities,” he added.