Boeing CEO says the company will furlough employees soon to preserve cash during labor strike

AP Airlines Writer

Boeing’s CEO says the company will begin furloughing a large number of employees to save cash during a strike by union machinists. Chief executive Kelly Ortberg said Wednesday that executives, managers and other employees would be required to take time off without pay starting in the coming days. Factory workers in the Pacific Northwest began a strike Friday after rejecting a proposal to raise pay by 25% over four years. They want raises of at least 40%. The furloughs are expected to affect tens of thousands of Boeing employees. Ortberg says he and other senior executives also will take pay cuts for as long as the strike lasts.