Boeing Begins Layoffs, Reducing Workforce by 17,000 Jobs, or 10%
Boeing has begun issuing layoff notices to 17,000 employees, representing 10% of its global workforce, as part of an effort to align its workforce with the company’s financial situation. The layoffs, which were anticipated, are expected to take effect by January, in compliance with the Worker Adjustment and Retraining Notification (WARN) Act, which requires a 60-day notice period before ending employment.
Boeing has begun issuing layoff notices to 17,000 employees, representing 10% of its global workforce, as part of an effort to align its workforce with the company’s financial situation. The layoffs, which were anticipated, are expected to take effect by January, in compliance with the Worker Adjustment and Retraining Notification (WARN) Act, which requires a 60-day notice period before ending employment.
The decision to cut jobs comes after a series of challenges faced by the heavily indebted aerospace giant, including a massive strike by 33,000 workers on the U.S. West Coast, which severely affected the production of its commercial jets. Boeing confirmed that the job cuts were part of a broader strategy to streamline its operations and focus on its most critical priorities.
“As previously announced, we are adjusting our workforce levels to align with our financial reality and a more focused set of priorities,” Boeing said in a statement. The company also emphasized its commitment to supporting its employees through this difficult period, acknowledging the impact the layoffs have had on morale within the organization.
The layoffs are being implemented while Boeing is still working to recover from several ongoing crises. These include a safety incident earlier this year when a door panel blew off a 737 MAX mid-flight, leading to an internal investigation and the departure of its CEO. Boeing has also faced significant regulatory scrutiny over its safety culture, further compounding the company’s challenges.
Adding to the turmoil, Boeing’s new CEO, Kelly Ortberg, is attempting to revive production of the 737 MAX, which brought in over $24 billion in sales in October. Despite the new sales, the company has struggled to meet its production targets, with the strike in September severely hampering its ability to fulfill orders.
As Boeing moves forward with these layoffs, employees have expressed anxiety and uncertainty, with many waiting anxiously for notifications from their managers to determine if their jobs will be affected. The company’s workforce has been deeply impacted by these recent developments, adding another layer of pressure as Boeing navigates through its ongoing financial and operational challenges.
Sources By Agencies
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