What will Boeing job cuts look like in days ahead?
Apr 28, 2020, 7:49 AM | Updated: Oct 8, 2024, 6:42 am
Workers meet on the flight line near Boeing 737 MAX factory shortly after company resumed operations, in Renton. (Photo by Stephen Brashear/Getty Images)
(Photo by Stephen Brashear/Getty Images)
Boeing cut 27,000 Washington jobs after 9/11 in 2001, when the flying public decided not to get on airplanes. That drought lasted about three years. Are we looking at a repeat because of the coronavirus?
Turbulence on the horizon for Boeing, with company facing possible cuts
Boeing CEO David Calhoun told shareholders Monday that it will likely be two or three years before the industry sees a return to 2019 flying levels. That will likely mean thousands of job cuts in Washington.
We will have to wait until Wednesday’s first quarter earnings report to get a better idea of the kinds of job cuts. Boeing’s engineering union told the Seattle Times the job cuts could be between 15% to 35%, but it then quickly walked those figures back.
The hard numbers are expected Wednesday. Boeing will be offering voluntary layoff buyouts to a segment of its employees. We’re also expecting to get a look at what that package is in the earnings report.
Boeing slowly hits restart button in Washington
We will also get a look at Boeing’s production cutbacks. We’ve already heard that 787 production could be cut by 50%.
Boeing rival Airbus is in the same position. It has already cut production by 30% on most jets and 40% on its bigger models. Airbus’ CEO says the company is bleeding cash, and it will likely be making similar job cuts.
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