Boe­ing says it will cut more than 4,500 jobs

The Pak Banker - - COMPANIES/BOSS -

Boe­ing Co (BA.N) will elim­i­nate about 4,000 jobs in its com­mer­cial air­planes divi­sion by the mid­dle of this year and an­other roughly 550 jobs in a divi­sion that con­ducts flight and lab tests, com­pany spokes­peo­ple told Reuters.

The plane­maker will re­duce 1,600 po­si­tions in the com­mer­cial air­planes divi­sion through vol­un­tary lay­offs, while the rest of the cuts are ex­pected to be com­pleted by leav­ing open po­si­tions un­filled, spokesman Doug Alder said. "While there is no em­ploy­ment re­duc­tion tar­get, the more we can con­trol costs as a whole the less im­pact there will be to em­ploy­ment," Alder said.

The job cuts, which will in­clude hun­dreds at ex­ec­u­tive and man­age­rial po­si­tions, will not done through in­vol­un­tary lay­offs, Alder said. Boe­ing will also cut about 10 per­cent of the ap­prox­i­mately 5,700 jobs in its test and eval­u­a­tion divi­sion, which con­ducts flight and lab tests, spokes­woman San­dra Angers told Reuters. The com­pany had a to­tal of 161,400 em­ploy­ees as of Dec. 31. Reuters had re­ported last month that Boe­ing was con­sid­er­ing of­fer­ing vol­un­tary lay­offs to its pro­fes­sional en­gi­neers and tech­ni­cal work­ers.

In Fe­bru­ary, Ray Con­ner, chief ex­ec­u­tive of Boe­ing's air­plane busi­ness, warned em­ploy­ees that job cuts were nec­es­sary to "win in the mar­ket, fund our growth and op­er­ate as a healthy busi­ness."

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.