CHICAGO (dpa-AFX) - Spirit AeroSystems (SPR) announced employee furloughs due to the ongoing strike by Boeing workers represented by the International Association of Machinists and Aerospace Workers, which began on September 13.
Starting October 28, Spirit AeroSystems will implement a 21-day furlough for about 700 employees involved in the 767 and 777 programs. The decision is part of a broader strategy for cost savings, which also includes a hiring freeze, and restrictions on travel and overtime.
Spirit noted that it has accumulated a significant inventory buffer for the 767 and 777 programs and lacks space for additional storage. If the strike persists beyond November, financial challenges will necessitate further cost-saving measures, including potential layoffs and additional furloughs.
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