Spirit AeroSystems is to implement a 21-day furlough for 700 employees working on the 767 and 777 programs.
In a statement the company said: “These furloughs are in combination with a series of other cost savings measures, including a hiring freeze and travel and overtime restrictions. The company has built up a significant inventory buffer on the 767 and 777 programs and does not have room for additional storage.”
If strikes at Boeing continue beyond November financial pressures will require Spirit to implement additional cost savings measures including potential layoffs and additional furloughs.
"This difficult step was necessary given our limited storage capacity for 767 and 777 units," said Pat Shanahan, CEO of Spirit AeroSystems. “We recognise the impact this has on our valued teammates and their families, and we are committed to supporting them through this period.”
Furlough action is expected to commence from October 28, 2024.