Boeing To Cut Thousands Of Jobs
Boeing will cut at least 4,000 jobs this year, and maybe as many as 8,000, the Seattle Times reported this week. The first 4,000 jobs are expected to be eliminated by June. Boeing officials told the Times the initial job cuts would include “hundreds of executives and managers” as well as reductions due to attrition. Voluntary buyouts for about 1,600 workers are expected.
Boeing will cut at least 4,000 jobs this year, and maybe as many as 8,000, the Seattle Times reported this week. The first 4,000 jobs are expected to be eliminated by June. Boeing officials told the Times the initial job cuts would include "hundreds of executives and managers" as well as reductions due to attrition. Voluntary buyouts for about 1,600 workers are expected. The cuts are part of an overall austerity program aimed at cutting billions of dollars from the company's budget by the end of the year. Other efforts will include scrutinizing costs, boosting productivity and cutting travel and overtime for staff.
Aviation analyst Adam Pilarski told the Times there's a risk involved for the company in cutting back on the workforce, especially since Boeing has said it plans to compete with Airbus by ramping up production of the 787 Dreamliner and the 737. "I cannot see how you cut employment 10 percent and keep production levels increasing," Pilarski said. "The two don't go together. Something has to give."
