October 18, 2024 – 7:45 AM PDT
(Reuters) – Spirit AeroSystems (SPR.N) will tell employees on Friday that it will furlough 700 workers for 21 days as an over month-long strike at U.S. planemaker Boeing (BA.N) eats into the supplier’s cash and inventory space, a spokesperson told Reuters.
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The furloughs will affect Spirit Aero employees working on Boeing’s 767 and 777 widebody jet programs. Production of those jets was halted during the strike by more than 33,000 U.S. West Coast factory workers since Sept. 13.
The furloughs follow other Spirit efforts to cut costs, including a hiring freeze and travel and overtime restrictions.
“These furloughs are necessary as we’ve run out of storage space for 767 and 777,” spokesperson Joe Buccino said.
Boeing suppliers, who invested heavily on materials and tooling to support the…
