Boeing Furloughs White-Collar Workers as Strike Worsens Cash Crunch

Boeing Furloughs White-Collar Workers as Strike Worsens Cash Crunch · The Wall Street Journal

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Boeing is furloughing tens of thousands of white-collar employees in an effort to cut costs and avoid a credit-rating cut in the midst of a strike by its largest union. The jet maker will furlough affected employees for one week out of every four weeks for the duration of the walkout, Chief Executive Kelly Ortberg wrote in a memo to employees Wednesday. Credit-rating firms warned that they might downgrade Boeing if the strike drags on.