Boeing furloughing tens of thousands of employees, CNBC reports

Boeing will furlough tens of thousands of employees, including executives, managers and other staff, amid the ongoing machinist strike in an effort to preserve cash, CNBC’s Leslie Josephs reports. CEO Kelly Ortberg told employees in a memo that affected employees will take one week of furlough every four weeks for the strike’s duration and that he and his team will take “commensurate” pay cuts for the duration of the strike. “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. We will continue to transparently communicate as this dynamic situation evolves and do all we can to limit this hardship,” Ortberg said in the memo.