Boeing is grappling with a major strike as over 30,000 workers walk off the job after rejecting a contract offer, marking the first such action in 16 years. The machinists' strike has severely impacted airplane production, prompting the company to furlough tens of thousands of employees, including non-union workers, as it seeks to conserve cash. Recent mediation efforts have failed to yield meaningful progress, raising concerns about the potential length of the labor dispute. The strike is compounded by Boeing's decision to apply furloughs broadly and reduce executive pay, as the company braces for significant financial pressures. Union leaders are urging workers to hold out for better wages, while Boeing's management has expressed its intention to negotiate despite escalating tensions. The ongoing unrest, alongside the gig economy giving workers increased leverage, paints a troubling picture for the aerospace giant.