Boeing To Freeze Hiring As Cash Woes Mount Over Coronavirus, 737 MAX
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SEATTLE/PARIS (Reuters) - Boeing Co (BA.N) is freezing new hiring and overtime except in certain critical areas to preserve cash, the U.S. planemaker's CEO said on Wednesday, as the coronavirus outbreak compounds the fallout from a year-old grounding of its money-spinning 737 MAX.
Boeing Chief Executive Dave Calhoun told employees on Wednesday the company was taking steps to address the business pressures that result from "the pain our customers and suppliers are feeling."
The twin global crises, and news that Boeing is planning to draw down the rest of a $13.8 billion loan it took last month, sent shares down more than 14% to almost a three-year low on Wednesday amid a...
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