Boeing slashes 12,000 jobs as virus seizes travel industry

One of the nation's biggest manufacturers said Wednesday that it will lay off 6,770 U.S. employees this week, and another 5,520 workers are taking buyout offers to leave voluntarily in the coming weeks.

Air travel within the U.S. tumbled 96% by mid-April, to fewer than 100,000 people on some days. It has recovered slightly. The Transportation Security Administration said it screened 264,843 people at airports on Tuesday, a drop of 89% compared with the same Tuesday a year ago. Calhoun warned that Boeing will have to adjust business plans constantly because the pandemic makes it hard to predict the impact on the company's business.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘A cataclysmic situation’: Aviation industry prepares for sweeping changes in post-pandemic travel'A cataclysmic situation': Aviation industry prepares for sweeping changes in post-pandemic travel
Source: nationalpost - 🏆 10. / 80 Read more »

Latam Airlines seeks bankruptcy protection as travel industry struggles with COVID-19The Chapter 11 bankruptcy filing underscores the severity of the financial challenges facing the travel industry as a result of the lockdowns, quarantines and other measures taken to combat COVID-19
Source: globeandmail - 🏆 5. / 92 Read more »