. And the aircraft maker says more cuts are coming.
The layoffs are expected to be concentrated in the Seattle area, home to Boeing's commercial-airplanes business. The company said additional job cuts will be made in international locations, but it did not provide numbers.Boeing's defence and space division has remained relatively stable, helping offset the decline in air travel and demand for passenger jets.Air travel within the US tumbled 96 per cent by mid-April, to fewer than 100,000 people on some days. It has recovered slightly.
Calhoun said the company faces the challenges of keeping employees safe and working with suppliers and airlines "to assure the travelling public that it can fly safe from infection." Union representatives said they were still seeking details of the layoffs. About 1300 members of the Society of Professional Engineering Employees in Aerospace, which represents Boeing engineers, had been approved for severance packages, including one week of pay for every year of employment, up to 26, according to the union."This is an extremely tough time for anyone working in aerospace, and certainly at Boeing," said Bill Dugovich, a union spokesman.
I expect Wall Street to rally again tonight. They love unemployment.
TheRealPBarry Sad, but Boeing quality has severely diminished over the last ten or so years due to greedy cost cutting measures like transferring to non-union labour. Airbus has been much better for a long time now.
TheRealPBarry Pretty soon the beautiful people won't even be able to have a friend who just flew in from L.A.?!
Thanks CCP
Yet Qantas shares are up 25% this month..