Boeing to lay off roughly 10% of its workforce
CNN
The CEO of Boeing told employees late Friday that the company plans to cut 10% of its total staff “over the coming months.”
The CEO of Boeing told employees late Friday that the company plans to cut 10% of its total staff “over the coming months.” “Our business is in a difficult position, and it is hard to overstate the challenges we face together,” said Kelly Ortberg, who started at CEO of the troubled aircraft maker two months ago and has been dealing with a strike by 33,000 hourly workers for half his time on the job. The announcement is just the latest blow at the troubled planemaker, which has faced losses of more than $33 billion in the past five years; a string of severe, sometimes fatal safety lapses; and increased scrutiny from regulators and law enforcement as a result. “Beyond navigating our current environment, restoring our company requires tough decisions and we will have to make structural changes to ensure we can stay competitive and deliver for our customers over the long term,” Ortberg wrote in a memo to staff Friday on “positioning for the future.” Ortberg’s notice did not give the number of jobs that would be cut, although as of the start of the year Boeing had 171,000 employees worldwide, with 147,000 of those in the United States. Boeing has had more than five years of severe problems, starting with two fatal crashes of its best selling plane, the 737 Max, in 2018 and 2019, which resulted in a 20-month grounding of the jet worldwide. It also suffered massive losses in 2020 when the pandemic caused a near-halt in air travel and forced airlines to pull back on their orders for new planes.
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