Boeing says it's going to start furloughing 'a large number' of its white-collar employees amid strike

Core Points - Boeing announced temporary furloughs for a large number of white-collar employees due to a strike involving around 30,000 workers who rejected a new pay contract [1][2] - The furloughs will involve selected employees taking one week off every four weeks on a rolling basis, with details provided to affected teams [1][5] - Boeing's CEO and leadership team will also take a pay reduction during the strike, although the size of the cut was not specified [2][5] Financial Impact - The strike halts production of key aircraft, including the 737 MAX, and is aimed at preserving cash for the heavily indebted company [2][3] - Historical context indicates that Boeing's last strike in 2008 resulted in a revenue loss of $4.3 billion and 70 fewer aircraft deliveries in the affected quarter [3] Operational Adjustments - In addition to furloughs, Boeing has implemented a hiring freeze, paused pay increases for managers, and restricted employees from flying business class [3][5] - The company emphasizes that all critical activities related to safety, quality, and customer support will continue, including the production of the 787 [5][6] Union Relations - The strike follows a union vote where approximately 95% of workers rejected the proposed contract, and 96% voted in favor of striking, marking the first full contract vote in 16 years [2]