Boeing stock misses market rally as strike forces furloughs

A man in the center of the image raises his right hand in a fist and shouts as fellow union members do the same or hold up signs calling for a strike against Boeing (Credit: Jason Redmond—AFP via Getty Images)

Boeing’s standoff with over 33,000 striking workers is already taking a toll. On Wednesday, the company told executives and other nonunion workers they would be temporarily furloughed to save cash. The company confirmed the move would affect tens of thousands of employees, who will keep their benefits but will be off one week every four without pay on a rolling basis.

“While this is a tough decision that impacts everybody, it is in an effort to preserve our long-term future and help us navigate through this very difficult time,” new CEO Kelly Ortberg wrote in an email to employees. “We will continue to transparently communicate as this dynamic situation evolves and do all we can to limit this hardship.”