Boeing has initiated temporary furloughs affecting tens of thousands of employees due to a strike by 30,000 machinists that has halted production of key aircraft including the 737 MAX. CEO Kelly Ortberg announced that selected employees would take one week of furlough every four weeks during the strike, which is the first at Boeing since 2008. The machinists are demanding a 40% pay raise while Boeing has offered a 25% increase, leading to significant frustration among workers. The ongoing labor dispute is expected to cost Boeing billions and further strain its already troubled finances, which include approximately $60 billion in debt. In addition to the furloughs, Boeing has laid off several experienced contractors and reduced its workforce in response to production challenges. Analysts predict a prolonged strike could lead to a downgrade of Boeing's credit rating, further complicating the company's recovery efforts.