Conserving CASH, Boeing Awards Stock Instead Of Pay Raises To Nonunion Employees To Stop The Cash Bleed
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December 17, 2020 - by Dominic Gates for www.seattletimes.com
- Conserving CASH, Boeing Awards Stock Instead Of Pay Raises To Nonunion Employees To Stop The Cash Bleed, which last quarter was $55 million per day Boeing also using stock to make 401(k) plan contributions and fund its company pension plan
As Boeing scrambles to conserve cash in the dramatic aviation downturn, CEO Dave Calhoun told nonunion employees Wednesday the company has this month given them shares of company stock instead of pay raises.
Boeing said it awarded the stock Monday to about 82,000 employees, excluding executives and those engineers, machinists and others whose pay is determined by union contracts.
The stock will vest in three years, on Dec. 14, 2023, provided the employee doesn't leave the company through that...
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