Boeing will lay off 10% of its employees as a strike by factory workers cripples airplane production
Boeing plans to lay off about 10% of its workers in the coming months as it continues to lose money and tries to deal with a strike that is crippling production of the companys best-selling airline planes.
Boeing plans to lay off about 10% of its workers in the coming months as it continues to lose money and tries to deal with a strike that is crippling production of the company's best-selling airline planes. New CEO Kelly Ortberg told staff in a memo Friday that the job cuts will include executives, managers and employees.
The company had already imposed rolling temporary furloughs, but Ortberg said those will be suspended because of the impending layoffs.
The company will delay the rollout of a new plane, the 777X, to 2026 instead of 2025. It will also stop building the cargo version of its 767 jet in 2027 after finishing current orders.
Boeing has lost more than $25 billion since the start of 2019. Union machinists have been on strike since Sept.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.