Boeing enforces a hiring freeze and implements measures to preserve funds following the commencement of a strike

Boeing (BA.N) is temporarily halting its recruitment efforts and implementing comprehensive measures to save money following the strike by at least 33,000 workers on Friday. This includes contemplating temporary furloughs for a significant number of employees, managers, and executives in the upcoming weeks.

“The strike poses a significant threat to our recovery, and we must take necessary measures to preserve cash and protect our shared future,” stated Brian West, Boeing’s Chief Financial Officer.

Boeing is implementing a hiring freeze at all levels, halting most employee travel, suspending non-essential capital expenditures and facilities spending, and establishing plans for substantial reductions in supplier expenditures. Additionally, the company will cease issuing the majority of supplier purchase orders for the 737, 767, and 777 programs.