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Boeing to cut thousands of jobs in US

30 March 2016 20:15

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US aerospace giant Boeing moves to eliminate 10% of its workforce in Washington State after planning to cut thousands of jobs in the country.

According to The Seattle Times, the company has already taken steps to shed 4,000 jobs by June and is aiming for about a 10 percent overall cut, which would mean about 8,000 positions in Washington.

Last month, Boeing announced it would be eliminating commercial airplane jobs as part of a cost-cutting measure.

At the time, it gave no specific numbers, but said the reductions would ultimately affect “employment levels across all” of the commercial airplane unit.

On Tuesday, the company told The Seattle Times the initial layoffs include “hundreds of executives and managers” and that the 4,000 figure will be achieved through normal attrition and a voluntary buyout package for about 1,600 employees.

Boeing said the layoffs could come later in the year if cost-saving targets were not met.

Earlier in February, Ray Conner, chief executive of Boeing’s airplane business, declared that job cuts were necessary to “win in the market, fund our growth and operate as a healthy business.”

At the end of 2015, Boeing employment in Washington stood at 79,238, out of a companywide total of 161,368. That is down almost 7,800 jobs from the most recent Washington employment peak, in fall 2012, of 87,023.

The job losses followed a prolonged slump in airplane industry across the world.

 

US aerospace giant Boeing moves to eliminate 10% of its workforce in Washington State after planning to cut thousands of jobs in the country.

According to The Seattle Times, the company has already taken steps to shed 4,000 jobs by June and is aiming for about a 10 percent overall cut, which would mean about 8,000 positions in Washington.

Last month, Boeing announced it would be eliminating commercial airplane jobs as part of a cost-cutting measure.

At the time, it gave no specific numbers, but said the reductions would ultimately affect “employment levels across all” of the commercial airplane unit.

On Tuesday, the company told The Seattle Times the initial layoffs include “hundreds of executives and managers” and that the 4,000 figure will be achieved through normal attrition and a voluntary buyout package for about 1,600 employees.

Boeing said the layoffs could come later in the year if cost-saving targets were not met.

Earlier in February, Ray Conner, chief executive of Boeing’s airplane business, declared that job cuts were necessary to “win in the market, fund our growth and operate as a healthy business.”

At the end of 2015, Boeing employment in Washington stood at 79,238, out of a companywide total of 161,368. That is down almost 7,800 jobs from the most recent Washington employment peak, in fall 2012, of 87,023.

The job losses followed a prolonged slump in airplane industry across the world.

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