Update: Spirit AeroSystems Plans to Furlough Around 700 Employees Amid Boeing Strike Impact

MT Newswires Live

Oct 18, 2024

(Updates with Spirit AeroSystems' confirmation of its furlough plan throughout the story.)

Spirit AeroSystems Holdings (SPR) said Friday it plans to furlough roughly 700 employees working on the 767 and 777 jet programs, starting Oct 28, due to the current strike by Boeing (BA) staff.

The company said it has a "significant" inventory buffer on the 767 and 777 programs and has no space for additional storage.

The furloughs are part of other cost savings efforts, including a hiring freeze and travel and overtime restrictions, the aerospace company said.

Spirit also said that if the Boeing strike runs beyond November, it will adopt further cost savings measures including layoffs and additional furloughs due to "financial pressures."

Boeing did not respond to MT Newswires' request for comment.

Price: 32.01, Change: -0.20, Percent Change: -0.62

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2476250142"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2476250142\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2476250142?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-18 23:18","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2476250142","market":"us","top_or_hot":-1,"title":"Update: Spirit AeroSystems Plans to Furlough Around 700 Employees Amid Boeing Strike Impact","media":"MT Newswires Live","content":"<html><body><p> (Updates with Spirit AeroSystems' confirmation of its furlough plan throughout the story.)</p><p>Spirit AeroSystems Holdings (SPR) said Friday it plans to furlough roughly 700 employees working on the 767 and 777 jet programs, starting Oct 28, due to the current strike by Boeing (BA) staff.</p><p>The company said it has a \"significant\" inventory buffer on the 767 and 777 programs and has no space for additional storage.</p><p>The furloughs are part of other cost savings efforts, including a hiring freeze and travel and overtime restrictions, the aerospace company said.</p><p>Spirit also said that if the Boeing strike runs beyond November, it will adopt further cost savings measures including layoffs and additional furloughs due to \"financial pressures.\"</p><p>Boeing did not respond to MT Newswires' request for comment.</p><p>Price: 32.01, Change: -0.20, Percent Change: -0.62</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Update: Spirit AeroSystems Plans to Furlough Around 700 Employees Amid Boeing Strike Impact</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUpdate: Spirit AeroSystems Plans to Furlough Around 700 Employees Amid Boeing Strike Impact\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2024-10-18 23:18</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> (Updates with Spirit AeroSystems' confirmation of its furlough plan throughout the story.)</p><p>Spirit AeroSystems Holdings (SPR) said Friday it plans to furlough roughly 700 employees working on the 767 and 777 jet programs, starting Oct 28, due to the current strike by Boeing (BA) staff.</p><p>The company said it has a \"significant\" inventory buffer on the 767 and 777 programs and has no space for additional storage.</p><p>The furloughs are part of other cost savings efforts, including a hiring freeze and travel and overtime restrictions, the aerospace company said.</p><p>Spirit also said that if the Boeing strike runs beyond November, it will adopt further cost savings measures including layoffs and additional furloughs due to \"financial pressures.\"</p><p>Boeing did not respond to MT Newswires' request for comment.</p><p>Price: 32.01, Change: -0.20, Percent Change: -0.62</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4187","symbol_name":"航天航空与国防","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2476250142","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2476250142","pubTimestamp":1729264709,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Spirit AeroSystems Holdings  said Friday it plans to furlough roughly 700 employees working on the 767 and 777 jet programs, starting Oct 28, due to the current strike by Boeing  staff.The company said it has a \"significant\" inventory buffer on the 767 and 777 programs and has no space for additional storage.The furloughs are part of other cost savings efforts, including a hiring freeze and travel and overtime restrictions, the aerospace company said.Spirit also said that if the Boeing strike runs beyond November, it will adopt further cost savings measures including layoffs and additional furloughs due to \"financial pressures.\"Boeing did not respond to MT Newswires' request for comment.Price: 32.01, Change: -0.20, Percent Change: -0.62","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4187":"航天航空与国防","BK4551":"寇图资本持仓","BA":"波音","BK4588":"碎股","SPR.AU":"SPARTAN RESOURCES LIMITED","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","BK4564":"太空概念","BK7104":"黄金","SPR":"Spirit AeroSystems Holdings Inc","BK4516":"特朗普概念","BK4585":"ETF&股票定投概念"},"translate_title":"更新：受波音罢工影响，势必锐航空系统公司计划让约700名员工休假","themeId":"146167292fe9c6cc465c354e128e7090","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BA":0.7,"SPR.AU":1,"SPR":1},"content_text":"(Updates with Spirit AeroSystems' confirmation of its furlough plan throughout the story.)Spirit AeroSystems Holdings (SPR) said Friday it plans to furlough roughly 700 employees working on the 767 and 777 jet programs, starting Oct 28, due to the current strike by Boeing (BA) staff.The company said it has a \"significant\" inventory buffer on the 767 and 777 programs and has no space for additional storage.The furloughs are part of other cost savings efforts, including a hiring freeze and travel and overtime restrictions, the aerospace company said.Spirit also said that if the Boeing strike runs beyond November, it will adopt further cost savings measures including layoffs and additional furloughs due to \"financial pressures.\"Boeing did not respond to MT Newswires' request for comment.Price: 32.01, Change: -0.20, Percent Change: -0.62","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}