Boeing Begins Layoffs
Boeing announced it would begin issuing layoff notices to reduce its workforce.
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On Wednesday, Boeing announced it would begin issuing layoff notices to its employees as part of its plan to trim 17,000 jobs or 10 percent of its global workforce.
According to Reuters, U.S. employees receiving layoff notices this week will remain on Boeing’s payroll until January, in compliance with federal regulations requiring a 60-day notice before employment is terminated. According to the report, the news that Boeing would issue Worker Adjustment and Retraining Notification (WARN) notices in mid-November was expected. Last month, CEO Kelly Ortberg notified staff the layoffs would include senior leadership including executives and managers.
“As previously announced, we are adjusting our workforce levels to align with our financial reality and a more focused set of priorities," Boeing said in a statement. "We are committed to ensuring our employees have support during this challenging time."
Wednesday’s announcement comes just after the company reached an agreement with its workers, ending a six-week labor union strike that some estimates suggest cost Boeing more than $10 billion.
During a quarter three earnings call last month, Ortberg, who took over the company in August, said his main goal is to steer Boeing in the right direction and restore its reputation as a leader in the sector.
