Boeing furloughs thousands as it hunkers down for extended strike

STORY: Boeing said on Wednesdays it will temporarily furlough tens of thousands of employees.

That’s after about 30,000 machinists went on strike last week as they push for a 40% pay hike.

The strike has already halted production of Boeing’s 737 MAX and other planes, delaying deliveries to airlines.

:: “We are planning for selected employees to take one week of furlough every four weeks on a rolling basis for the duration of the strike."

Boeing’s new chief executive Kelly Ortberg announced the furloughs in an email to employees, which said “We are planning for selected employees to take one week of furlough every four weeks on a rolling basis for the duration of the strike."

Ortberg added he and other Boeing leaders would take what he called a ‘commensurate pay reduction’ during the strike.

The company employs about 150,000 people in the United States.

It is unclear exactly which employees are affected by the furloughs.

However, a union representing Boeing’s engineers said their members were not affected.

The move may point to Ortberg preparing the company to weather a prolonged strike– one that is unlikely to be easily resolved given the anger among rank-and-file workers.

The strike is Boeing's first since 2008.

:: NTSB

It's already been a turbulent year for the company, starting in January when a door panel blew off a new 737 MAX jet in mid-air.

Boeing shares have fallen about 40% so far this year.

Analysts say a drawn-out labor battle could further strain Boeing’s finances and threaten its credit rating.