Cyber-wellness Means Cyber-awareRead more Addressing maternal mental healthcare in AfricaRead more Qatar v. Ecuador to kick off FIFA World Cup 2022™ on 20 NovemberRead more Webb Fontaine Announces Launch of Niger National Single Window (NNSW) to Bolster TradeRead more Ethiopia: Loan from United Nations Fund Allows Food and Agriculture Organization (FAO) to Scale Up Fertilizers for Farmers in TigrayRead more How Choosing the Right Printer Helps Small Businesses and Content Creators to Save Time, Maximise Productivity and Achieve GrowthRead more Eritrea: World Breastfeeding WeekRead more Eritrean community festival in Scandinavian countriesRead more IOM: Uptick in Migrants Heading Home as World Rebounds from COVID-19Read more Network International & Infobip to offer WhatsApp for Business Banking Services to Financial Institution Clients across AfricaRead more

Boeing seeks more voluntary layoffs

Print Friendly and PDF

Aug 19, 2020 - 05:07 AM

NEW YORK — Boeing is launching a second round of voluntary layoffs to trim its workforce, the company said Tuesday, as it navigates a brutal commercial aviation market and seeks to return the 737 MAX to service.

The move comes on top of a 10 percent staff cuts earlier this year as commercial airline customers defer deliveries and cancel orders, hitting Boeing’s profits.

“While we have seen signs of recovery from the pandemic, our industry and our customers continue to face significant challenges,” the aerospace giant said in a message to AFP.

“We have taken proactive steps to adjust to the market realities and position our company for the recovery. As we continue to assess our workforce and in response to employee feedback, we will be offering a second voluntary layoff opportunity for employees to depart the company voluntarily with a pay and benefits package.”

Boeing did not provide an estimate of the potential size of the job cuts in this round.

The company on July 29 had signaled more belt-tightening was necessary when it reported a $2.4 billion loss.

At the time, executives said the company identified 19,000 workers who would leave the company by the end of the year, adding that the figure would be offset by 3,000 new hires mostly in the defense business.

Besides the severe downturn in air travel due to the coronavirus, Boeing is still working to win regulatory approval for the return to service of 737 MAX, which has been grounded since March 2019 following two deadly crashes.

The US Federal Aviation Administration earlier this month spelled out a series of new requirements for the MAX before it can be cleared for service, reiterating that the jet will be allowed to fly only when it meets all safety concerns.

  • bio
  • twitter
  • facebook
  • latest posts

LMBCBUSINESS.COM uses both Facebook and Disqus comment systems to make it easier for you to contribute. We encourage all readers to share their views on our articles and blog posts. All comments should be relevant to the topic. By posting, you agree to our Privacy Policy. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, name-calling, foul language or other inappropriate behavior. Please keep your comments relevant and respectful. By leaving the ‘Post to Facebook’ box selected – when using Facebook comment system – your comment will be published to your Facebook profile in addition to the space below. If you encounter a comment that is abusive, click the “X” in the upper right corner of the Facebook comment box to report spam or abuse. You can also email us.