Boeing Freezes Hiring to Preserve Cash During Worker Strike (3)

Boeing Co. said it’s instituting a range of cost-cutting measures as the planemaker prepares for a drawn-out and expensive strike by workers at its main hub near Seattle, including a hiring freeze and temporary furloughs “for many employees.”

Chief Financial Officer Brian West laid out the steps in a memo to employees shared with Bloomberg News, in which he informed workers of the necessary and “immediate” actions to support the company’s recovery.

The sweeping measures also include a halt of non-essential travel, pausing any pay increase associated with promotions, cutting back outlays for air shows and charitable donations and “significant ...