Boeing halts hiring and limits overtime: report
Boeing Co. BA, -13.55% has halted hiring and is limiting travel and overtime to preserve cash amid the travel disruptions wrought by the novel coronavirus, The Wall Street Journal reported Wednesday, citing a memo to Boeing employees. Three of its workers have tested positive for the illness.
Boeing stock added to losses after the news. The shares were rocked earlier Wednesday by a report that said the company was planning to draw down the full amount of a $13.825 billion loan to face the virus-related disruptions. The stock was poised to end at its lowest in more than 2 years and was the worst performer on the Dow Jones Industrial Average. DJIA, -4.82%
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