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BOEING PLANS TO CUT 7,000 MORE JOBS BY YEAREND OF 2021

Boeing said that it planned to slash another 7,000 jobs through the end of next year, building on a much larger cut announced this spring. In all, the company expects to end 2021 with about 130,000 employees, nearly 19 percent fewer than at the start of this year, Niraj Chokshi reported for the New York Times

“As we align to market realities, our business units and functions are carefully making staffing decisions to prioritize natural attrition and stability in order to limit the impact on our people and our company,” Dave Calhoun, Boeing’s president and chief executive, said in a note to employees. 


News of the job cuts comes as Boeing reported a $466 million loss in the three months through September, on revenue of more than $14 billion. Revenue from its commercial airplane business fell about 56 percent from the same quarter last year as Boeing deals with crises caused by the pandemic and the grounding of the 737 Max in March 2019 after 346 people were killed in two fatal crashes. The Max could return to the skies in the coming months, after making significant progress among global regulators. Boeing said it has completed about 1,400 test and check flights aboard the plane, a workhorse of its fleet, as it prepares for the recertification. 


The company’s Max backlog has fallen by more than 1,000 orders this year because of cancellations and stricter accounting that weighs the diminishing odds that an order will be fulfilled. Over all, the company has more than 4,300 commercial planes in its backlog, which it values at $313 billion.       


Boeing said it expected it would take about three years for airline passenger traffic to recover to the numbers seen in 2019. Foot traffic at federal airport checkpoints on Tuesday was down about 66 percent compared with a year ago, according to the Transportation Security Administration (TSA).




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