Boeing Strike Halts 737 MAX Production

Boeing will temporarily furlough a large number of U.S.-based executives, managers, and employees due to a strike by approximately 30,000 machinists, which has halted production of its 737 MAX and other aircraft. The furloughs involve employees taking one week off every four weeks on a rolling basis, while maintaining their benefits. CEO Kelly Ortberg and other leaders will also take pay reductions during the strike. The union demands include a 40% wage increase and the reinstatement of pensions, while Boeing has offered a 25% raise. Contract negotiations have resumed under federal mediation, but significant differences remain. The strike is Boeing's first since 2008 and could cost the company billions of dollars, affecting its financial stability and credit rating.