The planemaker finds itself in an increasingly untenable situation with its finances so dire that it can ill afford a drawn-out paralysis.

According to The Associated Press, 94.6% of voting workers rejected Boeing’s contract proposal, which included a 25% wage increase over four years. In addition, 96% of members voted in favor of a strike, surpassing the two-thirds majority required for such an action.

Boeing top executive said Sept. 18 that the company will begin furloughing "a large number" of workers to conserve cash during the strike by union machinists that began last week. CEO Kelly Ortberg said the employees who would be required to take time off without pay starting in the coming days include executives,