The company announced the new policy in an email to all U.S. employees on Wednesday, Boeing communications director Chaz Bickers said, even as chief executive Dennis Muilenburg was in California telling investors at a conference that "on balance, the aerospace marketplace is looking solid and growing."
Boeing will limit paid overtime for U.S.-based salaried exempt, non-union workers, beginning Oct. 14, to what the company email described as "mission-critical or production-critical work only."
The Chicago-based company won't say how much it hopes to save thanks to the move, but Bickers said "improving competitiveness across the company allows us to compete and win when there’s immense pressure in the marketplace."
The email described the overtime limits as "another step in the company’s efforts to improve our affordability and competitiveness so that we can better position ourselves to grow sales to customers with the innovative products and services they need."
"More sales will allow us to invest in future products and create more work for employees who make the world’s best airplanes," the email added.
The company-wide policy affects about 80,000 salaried, exempt Boeing employees based across the U.S.
Salaried exempt employees are those who receive an annual salary, and are not entitled to overtime pay under federal or state law, the email said.
The company, which employs almost 160,000 around the world, could not immediately say how many workers in the Puget Sound will be affected.
But the pay of union-represented Boeing employees in the region and elsewhere will "remain in line with current collective bargaining agreements," the Boeing spokesman said.
The policy does not affect non-exempt, non-union employees who are covered by overtime pay rules set by federal and state law.
(Andrew McIntosh- Puget Sound Business Journal)
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