Catherwood LibraryILR School

Boeing will freeze hiring efforts and is considering temporary layoffs due to the current worker strike. The company will also reduce employee travel and lower spending on supplies, all in an effort to bring down costs and save money while workers are on strike. Boeing’s CFO released a memo to workers on ten measures that the company would be implementing during this time. Boeing faced various challenges in recent months, and this led to financial uncertainty that will be intensified by the worker strike. Unionized workers went on strike starting late last week, after the recent tentative agreement failed to pass a majority vote. The workers are represented by the International Association of Machinists and Aerospace Engineers, and the union and Boeing agreed on a tentative contract that would increase wages by 25 percent over the next four years. The union entered contract negotiations demanding wage increases of over 40 percent.