NEW YORK: Boeing will suspend most hiring and overtime pay as it works to conserve cash in the face of twin crises over the 737 MAX and a massive slowdown in travel due to the coronavirus disease 2019 (Covid-19) pandemic, the company said on Wednesday (Thursday in Manila).

Shares of Boeing plunged more than 18 percent in another bruising day for Wall Street as the company announced the belt-tightening measures after disclosing dozens of MAX plane cancelations.

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