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Workers with picket signs outside the Boeing Co. manufacturing facility during a strike in Everett, Washington, US, on Friday, Sept. 13, 2024.

Boeing will temporarily furlough thousands of U.S. executives, managers and other staff, citing the ongoing machinist strike as the company races to preserve cash, CEO Kelly Ortberg told employees Wednesday.

The furloughs will affect tens of thousands of Boeing employees, a company spokesperson said.

The plan came less than a week after Boeing's more than 30,000 machinists in the Seattle area and Oregon overwhelmingly voted down a new labor contract and 96% voted to strike, walking off the job just after midnight on Friday.

Negotiations between the two sides continued this week with a mediator. Boeing had offered a 25% raise and the union endorsed the tentative contract. But some workers told CNBC that the contract offer was rejected because the raises weren't sufficient enough to match the increase in the cost of living in the Seattle area and it didn't restore their pensions.

"We will not mince words - after a full day of mediation, we are frustrated," the union said in a statement Tuesday.

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