NEW: Boeing to cut workforce, production as pandemic delivers a 'body blow.' The 'demand for commercial airline travel has fallen off a cliff,' the company's CEO said in a memo.
In this Feb. 14, 2011, file photo, Boeing employees work on a Boeing 787 Dreamliner on one of the assembly lines at the company's factory in Everett, Wash.
In this Feb. 14, 2011, file photo, Boeing employees work on a Boeing 787 Dreamliner on one of the assembly lines at the company's factory in Everett, Wash.Boeing is seeking to cut roughly 10% of its workforce, or 16,000 employees, from its payroll through voluntary measures and"involuntary layoffs as necessary" as the COVID-19 pandemic delivers a"body blow" to its business, Boeing CEO Dave Calhoun said in an internal memo to employees.
The manufacturer plans to reduce production rates for the 787 and 777, two widebody commercial jets. The cuts will be the deepest in Boeing's commercial airplane unit.Airline passenger
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WSJ News Exclusive | Prosecutors, Regulators Probe Boeing 737 MAX Production IssuesBoeing faces criminal and civil scrutiny into years of widespread quality-control lapses on its 737 MAX assembly line, potentially exposing the plane maker to greater legal liability than previously anticipated.
Read more »
Boeing CEO Sees Years Of Recovery From Coronavirus Ahead For Aviation IndustryBoeing's CEO told shareholders in a virtual annual meeting on Monday that it may take several years for commercial airlines to recover from the huge drop-off caused by the coronavirus pandemic.
Read more »
Boeing to resume 787 production at South CarolinaBoeing Co will resume production of 787 aircraft at its facilities in South Carolina, with most of the staff returning by May 4, the company said on Monday.
Read more »
Boeing to restart production at South Carolina factoryBoeing says it will restart production of the 787 Dreamliner jet at its South Carolina factory next week. It restarted production at its Washington state factories last week.
Read more »
Boeing to reopen South Carolina plant closed for coronavirus - Business InsiderBoeing had closed the South Carolina 787 Dreamliner factory on April 8 due to the coronavirus. It reopened its Washington factories last week.
Read more »
Boeing says it will need to borrow more money on coronavirus falloutBoeing Co will need to borrow more money over the next six months and does not expect to pay dividends again for years, as the U.S. planemaker wrestles with industry fallout from the coronavirus and the grounding of its 737 MAX jet, chief executive Dave Calhoun told shareholders on Monday.
Read more »