Two months after 6,770 Boeing employees lost their jobs, the aircraft manufacturing giant said more layoffs could be coming as it continues to struggle financially during … Back in April Boeing said it would cut about 10 percent of its 160,000-person workforce.
File Photo by Stephen Shaver/UPI | License Photo Published Mon, Aug 17 2020 8:47 PM EDT Updated Mon, Aug 17 2020 8:53 PM EDT Key Points Boeing will be offering a second voluntary layoff package to … Boeing laid off 6,770 workers after announcing in April it would eliminate 10% of its workforce, reportedly t hrough voluntary layoffs, natural turnover and involuntary layoffs. April 29, 2020.
Sorry, your blog cannot share posts by email. Boeing laid off 6,770 workers Wednesday, part of a plan to reduce 16,000 total jobs because of the rapid decrease in air travel during the Covid-19 pandemic. The International Association of Machinists and Aerospace Workers (IAM) Local 751 represents roughly 17,000 members in Washington and none in South Carolina.
"It's important that we start adjusting to our new reality now," he said.Boeing's financial picture was already a bit cloudy prior to the coronavirus outbreak because of the crisis surrounding the 737 MAX, which has been grounded for more than a year following two fatal crashes.But the COVID-19 crisis has made Boeing's situation significantly worse, grounding most commercial airline travel and putting major carriers in a life-or-death fight to go forward.
We've received your submission.Boeing Chief Executive Dave Calhoun outlined a plan of voluntary layoffs for employees on Thursday, while warning that the coronavirus pandemic would have a Under the plan, eligible employees who want to exit the company will be offered pay and benefits package, Calhoun said in a memo.“We’re in uncharted waters. "We're in uncharted waters," Calhoun said. The union contract expires in 2024 and there’s virtually no chance that Boeing will let the “opportunity” presented by the coronavirus pandemic pass without taking another swipe at the union.In February, Boeing helped write legislation to void tax breaks it had been granted by the state of Washington beginning in 2003 to support the 787 program. © 2020 Fortune Media IP Limited. It aims to complete many of those cuts by the end of the year. 5 Comments on “ Boeing announces voluntary layoffs in Puget Sound ” TransWorld April 28, 2020 Not mentioned is the wave of workers that were about to retire regardless. For the best Barrons.com experience, please update to a modern browser. A Boeing jetliner is seen parked at a gate at Beijing Capital International Airport in Beijing, China, on April 10, 2019. "We're taking actions -- including offering this voluntary layoff plan -- based on what we know today. Most analysts believe that single line most likely will be in South Carolina.The study Calhoun referred to is expected to be concluded next month, according to Scott Hamilton at Leeham News and Analysis, who expects Boeing to announce in late October that it will consolidate 787 production in Charleston.While Local 751 officials have not yet been contacted by Boeing, a development that comes as no surprise to union president Holden: “In typical Boeing fashion, they are talking to everyone else but the Union. Filed under airplanes , boeing , Coronavirus , layoffs … WARN notices: Received on June 8, 2020 - 5798 WA state employees last day with Boeing on July 31, 2020. Thanks for contacting us. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Big number: 50%. Between Washington and South Carolina, Boeing is cutting production of the 787 from 10 to six per month beginning next year. Received on July 31, 2020 - 940 WA state... — read more Boeing unveiled a voluntary worker layoff program Thursday, telling employees that it hoped to avoid "other workforce actions" as the aviation industry reels from the coronavirus crisis.Copyright ©2020 Dow Jones & Company, Inc. All Rights ReservedThis copy is for your personal, non-commercial use only.
"We will need to balance the supply and demand accordingly as the industry goes through the recovery process for years to come. Boeing Co. and GE Aviation both announced measures today to cut staff as factories close their doors and clients struggle to sell flights to a country under quarantine. "When the world emerges from the pandemic, the size of the commercial market and the types of products and services our customers want and need will likely be different," Calhoun said. This could close the WTO case if that body accepts the repeal.That still leaves Boeing with more production capacity than it can use, at least for the next two or three years.Boeing employs about 35,000 people at its Everett location building 747s, 767s, 777s and 787s. It marks the second time this year the aviation giant has planned workforce cuts beyond the original 10% target unveiled in April. Would you like to receive desktop browser notifications about breaking news and other major stories? The state, in 2013, added more incentives to keep the 777X program in Washington. The company announced it would cut 10% of its jobs, about 16,000 positions, through a combination of buyouts, natural attrition and involuntary layoffs. We've detected you are on Internet Explorer. Those tax breaks were declared illegal by the World Trade Organization (WTO) in 2019, and the state passed the legislation repealing the tax breaks in March of this year. Post was not sent - check your email addresses! We've detected you are on Internet Explorer. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. "Calhoun said the company would have additional information on the program in three to four weeks.A Boeing official said the company expects "several thousand employees to take the voluntary layoff package or retire," adding that the company would continue to recruit in some targeted areas, including for defense and space programs.Workers would exit Boeing permanently and would generally receive a pay and benefits package that includes a period of partially-subsidized healthcare coverage. For the best Barrons.com experience, please update to a modern browser.
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