Boeing Details Plans for Mass Job Cuts
27 Maggio 2020 - 07:19PM
Dow Jones News
By Doug Cameron
Boeing Co. announced plans Wednesday to shed more than 13,000
employees, including the first round of compulsory cuts as part of
previously announced plans triggered by the coronavirus-driven
collapse in global air travel.
The initial tranche of cuts is far larger than indicated on
Tuesday by union officials. The aerospace giant said the layoff
notices delivered this week will be the largest part of plans
announced last month to shed around 10% of its 160,000-strong
global workforce this year as it reduces jetliner production in
response to airlines' inability and unwillingness to take new
aircraft following huge declines in passenger traffic.
Boeing announced around 6,770 involuntary layoffs among U.S.
employees, while another 5,520 had been approved for voluntary
severance packages and will leave over the next few weeks.
The company said it had completed its voluntary-layoff program
after offering staff buyouts last month, with several thousand more
jobs set to go under compulsory cuts over the next several months.
They mark the first major reductions by the company since 2017,
when it laid off around 1,500 workers as part of a wider
cost-cutting drive.
Boeing said the latest cuts are focused on its commercial
jetliner business, but didn't provide details on the units or
locations affected. Union officials said the cuts are focused on
Seattle-area aircraft-assembly operations. Boeing is also expected
to cut jobs at its rapidly growing services arm as airlines reduce
spending on aircraft parts, as well as at its central corporate
offices, executives said last month.
Boeing is halving output of its 787 twin-aisle jet and plans to
resume limited production of its 737 MAX jetliner this quarter,
having halted output in January as it awaited regulatory clearance
for the plane to fly again following two fatal crashes.
A number of suppliers to Boeing's airplane factories near
Seattle have already announced job cuts, according to state
employment records.
Rival Airbus SE has embarked on its own wide-ranging
cost-reduction effort, cutting jetliner production initially by
one-third. General Electric Co., which makes engines and other
parts for both plane makers, also is cutting thousands of jobs.
Around 1,300 members of the Society of Professional Engineering
Employees in Aerospace, Boeing's main engineering union, applied
for the company's voluntary layoff package and were accepted, a
union official said Tuesday. The International Association of
Machinists and Aerospace Workers said around 1,200 of its members
at Boeing accepted voluntary layoffs.
The engineering union said the company rejected some
applications to take voluntary buyouts from staff working on
defense programs or with other critical skills.
The KC-46A refueling tanker and P-8 naval surveillance jet, both
based on commercial jetliners, are key sources of cash for Boeing
because of the drop in deliveries to airlines.
Write to Doug Cameron at doug.cameron@wsj.com
(END) Dow Jones Newswires
May 27, 2020 13:04 ET (17:04 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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