Boeing Set to Announce Significant US Job Cuts This Week, Says Union

A Boeing logo is seen at the company's facility in Everett

Boeing CEO David Calhoun gives his predictions for the future of aviation amid coronavirus. About 1,300 members of the Society of Professional Engineering Employees in Aerospace, which represents Boeing engineers, had been approved for severance packages, including one week of pay for every year of employment, up to 26, according to the union.

The combined voluntary and involuntary layoffs brings Boeing "to more than half of (its) goal", in reducing its workforce, Holland said.

On Wednesday, Boeing President and CEO Dave Calhoun said 6,770 of its employees in the US were being notified about the involuntary layoffs, according to a news release.

Boeing Co is expected to announce us job cuts this week after disclosing last month it planned to shed 10% of its worldwide workforce of 160,000 employees, people briefed on the plans and a union said.

The aircraft manufacturing giant previously said its planned to reduce its workforce by 10 percent (about 16,000 employees) and that would affect workers at Boeing's SC plant where final assembly on the 787 Dreamliner is done.

One of the nation's biggest manufacturers will lay off 6,770 USA employees this week, and another 5,520 workers are taking buyout offers to leave voluntarily in the coming wee Air travel within the U.S. tumbled 96 percent by mid-April, to fewer than 100,000 people on some days.

"I wish there were some other way".

Boeing is moving to cut costs as it faces a drop in airplane demand from the coronavirus pandemic.

On Tuesday, Boeing shares traded 5.24% higher at $144.73.

The company was already struggling with the aftermath of two fatal crashes of its 737 Max jets in the past two years.

Also in April Boeing recorded zero orders for the second time this year, marking the worst start to the company's year since 1962.

Last month, Boeing raised $25 billion in a bond offering that allowed the company avoid taking government aid.

The job cuts include more than 9,800 employees in Washington State. The company said additional job cuts will be made in global locations, but it did not provide numbers.

Boeing said it expects to resume 737 MAX deliveries in the third quarter following regulatory approvals, with production re-starting at low rates in the second quarter before gradually increasing to 31 per month during 2021.



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