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Boeing considers potential 10% cut to workforce: WSJ

Stock MarketsApr 10, 2020 12:10AM ET
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© Reuters. FILE PHOTO: The Boeing logo is displayed on a screen, at the NYSE in New York

(Reuters) - Boeing Co (N:BA) is considering a plan to cut its workforce by about 10%, which could involve buyouts, early retirements and involuntary layoffs, the Wall Street Journal reported on Thursday.

The potential job cuts are expected to largely target Boeing's commercial arm, which has been under strain due to the crisis in the global airline industry, the report https://www.wsj.com/articles/boeing-considers-potential-10-cut-to-workforce-11586485509?mod=e2tw said.

The planemaker declined to a Reuters request for comment.

Amid the coronavirus pandemic, Boeing has been suspending production at various plants, including the manufacturing of its 787 airplane at its facilities in South Carolina.

Last week, the U.S. planemaker's Chief Executive Officer Dave Calhoun outlined a plan of voluntary layoffs for employees, while warning that the pandemic would have a lasting impact on the aerospace industry.

The company had earlier freezed hiring and overtime pay except in certain critical areas to preserve cash.

Boeing considers potential 10% cut to workforce: WSJ
 

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Comments (1)
Johnny Crash
Johnny Crash Apr 10, 2020 1:44AM ET
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Only 10%, not bad considering nearly all air traffic has come to a full stop
Nemo Junior
Nemo Junior Apr 10, 2020 1:44AM ET
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So is that good or bad?
Nemo Junior
Nemo Junior Apr 10, 2020 1:44AM ET
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I mean will it go up or down
Charles Resheske
Charles Resheske Apr 10, 2020 1:44AM ET
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Nemo Junior 911 boeing layoff 40000. this is worse than 911 I'm thinking it will be more like 50 percent of commercial
 
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