Transportation
Boeing Starts Hiring Freeze, Weighs Temporary Furloughs
- Planemaker cuts supplier spending, mulls temporary furloughs
- Credit rating at risk of dropping below investment grade
This article is for subscribers only.
Boeing Co. said it’s instituting a range of cost-cutting measures as the planemaker prepares for a drawn-out and expensive strike by workers at its main hub near Seattle, including a hiring freeze and temporary furloughs “for many employees.”
Chief Financial Officer Brian West laid out the steps in a memo to employees shared with Bloomberg News, in which he informed workers of the necessary and “immediate” actions to support the company’s recovery.