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’s CEO says the company will begin furloughing a large number of employees to save cash during a strike by union machinists.

Nationwide, tens of thousands of Boeing staff are expected to take one week of furlough for every four weeks during the machinists strike.

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 on Wednesday.

Boeing CEO Kelly Ortberg said Wednesday the planemaker will temporarily furlough numerous U.S. executives and other employees after about 30,000 machinists went on strike Friday, halting production of its 737 MAX and other airplanes.

Boeing operates its defense business, which is in a separate unit from the company’s commercial plane segment, in the St. Louis area. There are about 15,000 Boeing workers here.

Boeing said today it will temporarily furlough tens of thousands of employees after about 30,000 machinists went on strike on Friday, halting production of its 737 MAX and other airplanes.