{"id":2341966,"date":"2024-09-16T16:44:00","date_gmt":"2024-09-16T20:44:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/boeing-outlines-multiple-immediate-cutbacks\/"},"modified":"2024-09-16T16:52:37","modified_gmt":"2024-09-16T20:52:37","slug":"boeing-outlines-multiple-immediate-cutbacks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/boeing-outlines-multiple-immediate-cutbacks\/","title":{"rendered":"Boeing Outlines Multiple Immediate Cutbacks"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">10<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fboeing-outlines-multiple-immediate-cutbacks%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2341966&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Boeing has announced plans \u2062to implement significant cost-cutting measures amid a strike that began last week, involving around 33,000 workers\u200d from the \u200dInternational Association of Machinists and Aerospace Workers. The \u2062strike came after workers rejected\u200c a contract which included a 25% pay raise over four years, with many seeking\u200b raises of \u200bat least 40% and the restoration of bonuses that were set to\u200c be cut. <\/p>\n<p>In response to the ongoing strike and its financial\u200b implications, \u200dCFO Brian West outlined ten immediate cutbacks in a memo to employees. These <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/homeland-security-authorizes-tsa-to-enforce-joe-biden-mask-mandate\/\" title=\"Homeland Security Authorizes TSA to Enforce Joe Biden Mask Mandate\">measures include<\/a> a hiring freeze, halting promotion pay increases, restricting non-essential travel, and potentially initiating temporary furloughs for employees at all levels.\u2063 West emphasized that Boeing&#8217;s\u200d financial situation is challenging, highlighting over\u2064 $25 billion in\u200b losses since 2019 and $4.3 billion in losses in the\u200c second quarter of \u20632024 alone.\u2062 <\/p>\n<p>Boeing&#8217;s total debt stands at \u200d$60\u200d billion,\u2062 which has prompted leadership to urge workers \u2062to accept contracts they\u2062 deem economically viable. Other cost-saving\u200d actions include reducing\u200c expenditures on suppliers and eliminating first- and business-class travel services. the company&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sean-penn-writes-angry-letter-blasting-staff-who-complained-about-vaccine-distribution-site-working-conditions\/\" title=\"Sean Penn Writes Angry Letter Blasting Staff Who Complained About Vaccine Distribution Site Working Conditions\">actions reflect<\/a>\u200b a response to the \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/game-of-half-inches-you-decide-if-this-critical-call-in-stanley-cup-finals-was-the-right-one\/\" title=\"Game of Half-Inches: You Decide if This Critical Call in Stanley Cup Finals Was the Right One\">financial difficulties exacerbated<\/a> \u200dby the ongoing strike.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<section> <script>console.log(\"ad slot (IC1)\")<\/script><script>console.log(\"ad slot (IC2)\")<\/script><\/p>\n<p>Boeing plans to freeze hiring and reduce travel and is considering temporary layoffs to save cash during the factory workers&rsquo; strike that began last week, the company told employees Monday.<\/p>\n<p>The company said moves, which include reduced spending on suppliers, were necessary because &ldquo;our business is in a difficult period.&rdquo;<\/p>\n<p>Chief Financial Officer Brian West detailed 10 immediate cutbacks in a memo to employees. They include a freeze on hiring across all levels, pausing pay increases for promotions, and stopping all travel that is not critical.<\/p>\n<p>&ldquo;We are also considering the difficult step of temporary furloughs for many employees, managers and executives in the coming weeks,&rdquo; West said.<\/p>\n<p>West said <a href=\"https:\/\/www.westernjournal.com\/ap-boeing-bring-starliner-capsule-back-earth-friday-without-astronauts\/\" target=\"_blank\" rel=\"noopener\">Boeing<\/a>&lsquo;s business is in a difficult spot, and &ldquo;This strike jeopardizes our recovery in a significant way.&rdquo;<\/p>\n<p>  <script> \t\t\t\tif( ! getCookie( 'ff_subbed' ) ) if( typeof FFADS.replace_ict !='undefined' ) if( FFADS.replace_ict ) eval( FFADS.replace_ict ); \t\t\t<\/script> <\/p>\n<p>About 33,000 workers represented by the International Association of Machinists and Aerospace Workers began a strike early Friday. The walkout came after workers rejected an offer with pay raises of 25 percent over four years.<\/p>\n<p>Boeing has lost more than $25 billion since the start of 2019, and burned through $4.3 billion in the second quarter of 2024 alone as it stood poised to post another money-losing year.<\/p>\n<p>Stephanie Pope, the head of Boeing&rsquo;s commercial-airplanes division, cited the company&rsquo;s $60 billion in total debt in urging blue-collar workers to accept the contract offer last week. She called it the best offer Boeing had ever made &mdash; and it was endorsed by the union&rsquo;s local president and negotiators.<\/p>\n<p>But workers who have spoken out before and since the Thursday strike vote said they want raises totaling at least 40 percent and the restoration of bonuses that Boeing proposes to eliminate.<\/p>\n<p>Additional <a href=\"https:\/\/www.westernjournal.com\/report-banks-close-79-branches-6-weeks-cost-cutting-move\/\" target=\"_blank\" rel=\"noopener\">cost-cutting<\/a> moves spelled out in the chief financial officer&rsquo;s memo included eliminating first- and business-class service for anyone who does travel, and stopping spending on outside consultants.<\/p>\n<p>West also said Boeing plans to make &ldquo;significant reductions in supplier expenditures&rdquo; and will stop most supplier purchase orders related to the 737, 767 and 777 airplane models.<\/p>\n<p style=\"font-style: italic;\">The Western Journal has reviewed this Associated Press story and may have altered it prior to publication to ensure that it meets our editorial standards.<\/p>\n<div style=\"position: relative;\">\n<div class=\"ff-fancy-header-container\">  <\/div>\n<div class=\"entry-submit-correction inner-content\">\n<div class=\"correction-form\">\n<form style=\"display: none;\">\n<div class=\"sc-name-field\"> <label>* Name<\/label> <br \/> <input type=\"text\" name=\"name\" required> <\/div>\n<div class=\"sc--field\"> <label>* <\/label> <br \/> <input type=\"text\" name=\"\" required> <\/div>\n<p> <label>* Message<\/label> <br \/> <textarea name=\"message\" required><\/textarea>  <\/p>\n<div class=\"required-message\" style=\"display: none; padding-bottom: 15px;\">* All fields are required.<\/div>\n<p> <input type=\"submit\" value=\"Submit\" onclick=\"event.preventDefault(); firefly_sc();\">  <\/p>\n<div class=\"firefly-sc-confirm\" style=\"display: none;\">Success!<\/div>\n<\/p><\/form>\n<\/p><\/div>\n<\/p><\/div>\n<p> <script> \t\t\tfunction firefly_sc() { \t\t\t\tif( typeof window.captchaPublicKey==typeof undefined ){ \t\t\t\t\tconsole.error('window.captchaPublicKey is not defined'); \t\t\t\t} \t\t\t\tgrecaptcha.execute( window.captchaPublicKey, { action: 'submit_correction' } ).then( function( token ) { \t\t\t\t\tvar opts={ \t\t\t\t\t\taction:    'firefly_sc_submit', \t\t\t\t\t\tname:      document.querySelector( '.entry-submit-correction [name=\"name\"]' ).value, \t\t\t\t\t\t:     document.querySelector( '.entry-submit-correction [name=\"\"]' ).value, \t\t\t\t\t\tmessage:   document.querySelector( '.entry-submit-correction [name=\"message\"]' ).value, \t\t\t\t\t\tpost_id:   firefly_post_id, \t\t\t\t\t\tcap_token: token \t\t\t\t\t}  \t\t\t\t\tvar inputs=[ 'name', '', 'message' ];  \t\t\t\t\tfor( var i=0; i <inputs.length; i++ ) if( ! ( opts[inputs[i]]=document.querySelector( '.entry-submit-correction [name=\"' + inputs[i] + '\"]' ).value ) ) { \t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .required-message' ).style.display='block'; \t\t\t\t\t\treturn; \t\t\t\t\t}  \t\t\t\t\tdocument.querySelector( '.entry-submit-correction input[type=\"submit\"]' ).style.display='none'; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).src=firefly_loading_gif_url; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='inline-block';  \t\t\t\t\tconsole.log( 'ma subbing' );  \t\t\t\t\tif( firefly_post_id ) opts['post_id']=firefly_post_id;  \t\t\t\t\t\/* Send the data using post with element id name and name2*\/ \t\t\t\t\tvar posting=jQuery.post( firefly_ajax_url, opts );  \t\t\t\t\t\/* Alerts the results *\/ \t\t\t\t\tposting.done( function( response ) { \t\t\t\t\t\tif( response.success ) { \t\t\t\t\t\t\tconsole.log( response.data ); \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='none'; \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-confirm' ).style.display='block';  \t\t\t\t\t\t\tdataLayer.push( { 'event': 'submit-correction' } ); \t\t\t\t\t\t} \t\t\t\t\t}); \t\t\t\t}); \t\t\t} \t\t<\/script>  <\/div>\n<p style=\"border: 1px solid #f5f5f5; padding: 16px;\">Advertise with The Western Journal and reach millions of highly engaged readers, while supporting our work. <a href=\"https:\/\/www.westernjournal.com\/advertise-us\/?wj_source=article\">Advertise Today<\/a>.<\/p>\n<p><script>console.log(\"ad slot (BA1)\")<\/script> <\/p>\n<div class=\"ff-fancy-header-container\">  <\/div>\n<style> \t\t\t \t\t\t.insticator-unit.type-commenting{margin: 0 10px 25px 10px}@media screen and (max-width:1060px){#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{margin: 0 auto 25px auto !important;}}#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{height: 280px !important; width: 336px !important} \t\t<\/style>\n<div class=\"insticator-unit type-commenting\">\n<div class=\"insticator-ads\">   <script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-1\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-2\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-1\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-2\").remove() \t\t\t\t\t} \t\t\t\t<\/script> <\/div>\n<div class=\"insticator-ads additional\">   <script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-3\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-4\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-3\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-4\").remove() \t\t\t\t\t} \t\t\t\t<\/script> <\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boeing has announced plans to halt hiring and cut back on travel while contemplating temporary layoffs in response to the factory workers&#8217; strike that started last week. In a message to employees on Monday, the company explained that these measures, which also involve decreasing expenditures with suppliers, are essential due to the challenging state of their business. Chief Financial Officer Brian West outlined ten immediate cost-saving actions in a memo, including a hiring freeze at all levels, postponement of pay raises for promotions, and suspension of all non-essential travel. He mentioned that Boeing is also considering the tough decision of implementing temporary furloughs for many employees, managers, and executives in the upcoming weeks. West emphasized that the ongoing strike poses a significant threat to Boeing&#8217;s recovery.<\/p>\n<p>Approximately 33,000 workers represented by the International Association of Machinists and Aerospace Workers initiated their strike early Friday after rejecting an offer that included pay increases totaling 25 percent over four years. Since early 2019, Boeing has incurred losses exceeding $25 billion and burned through $4.3 billion just in the second quarter of 2024 as it faces another year of financial losses. Stephanie Pope, head of Boeing\u2019s commercial airplanes division, highlighted the company&#8217;s total debt of $60 billion while urging blue-collar workers to accept last week&#8217;s contract offer\u2014described as Boeing&#8217;s best ever\u2014which had received support from union leaders and negotiators. However, many workers have expressed demands for raises amounting to at least 40 percent along with reinstatement of bonuses that are set to be eliminated by Boeing.<\/p>\n<p>Additional cost-cutting strategies mentioned in West&#8217;s memo include eliminating first- and business-class services for any necessary travel and halting spending on external consultants. He also indicated plans for &#8220;significant reductions&#8221; in supplier spending while ceasing most purchase orders related to aircraft models such as the 737, 767, and 777<\/p>\n","protected":false},"author":1,"featured_media":2341967,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/09\/7bcb0c697cdf4f5382c9a830b2132873-scaled.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[33524,14922,23583],"class_list":["post-2341966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-aerospace","tag-boeing","tag-cutbacks"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/09\/7bcb0c697cdf4f5382c9a830b2132873-scaled.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2341966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2341966"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2341966\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2341967"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2341966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2341966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2341966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}