After a tumultuous year, the last thing Boeing needed was a union strike. Shares of the aircraft manufacturing giant touched new 52-week lows on Friday as a labor dispute involving its largest unionized workforce — the International Association of Machinists and Aerospace Workers (IAM) — was set to enter into a second week.

Boeing said furloughs began on Friday for thousands of employees in Washington State and Oregon, after more than 32,000 workers went on strike last week, halting production of the U.S. planemaker's best-selling 737 MAX and other jets.

Nonunion employees will experience one-week furloughs every four weeks as the troubled planemaker struggles to conserve cash.

Boeing is furloughing tens of thousands of white-collar employees in an effort to cut costs and avoid a credit-rating cut in the midst of a strike by its largest union.The jet maker will furlough affected employees for one week out of every four weeks for the duration of the walkout,

Boeing announced temporary furloughs for tens of thousands of employees after 30,000 machinists went on strike, halting production. The strike demands include a 40% raise over four years. The ongoing strike,

The temporary furloughs will affect a large number of Boeing's executives, managers, and employees. . Boeing furloughs tens of thousands as strike negotiations stall . boeing, Boeing strike, Boeing workers strike,

Boeing said Wednesday it is temporarily laying off tens of thousands of managers, executives and non-union contractors as the strike by 33,000 union members continues.

Boeing may prevent its debt being downgraded to junk by issuing more stock, which would deal another blow to current shareholders.