October 29, 2020

Deeper job cuts at Boeing as pandemic throttles air travel

Deeper job cuts at Boeing as pandemic throttles air travel 1Boeing said Wednesday that it will cut 7,000 more jobs as it continues to bleed money during a pandemic that has smothered demand for new airline planes.

The company said that when retirements and other employee departures are included, its workforce will shrink to about 130,000 by the end of next year, or 30,000 fewer people than it had at the start of 2020. Just three months ago, the company figured 19,000 workers would leave.

Boeing Co. outlined the job cuts on the same day it reported a $449 million loss for the third quarter, a swing from the $1.17 billion it earned in the same period last year. The loss was not as bad as feared, however.

Revenue tumbled 29% to $14.14 billion.

Source: Deeper job cuts at Boeing as pandemic throttles air travel

Related Posts

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}
>