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Boeing to cut more than 4,500 jobs to reduce costs

Written by  BBC

The world's largest plane manufacturer Boeing plans to cut more than 4,500 jobs by the middle of the year to reduce costs.

30
March

According to reports by BBC, a company spokesman said about 1,600 positions will go through voluntary redundancies while the rest will take place through attrition.

 

The bulk of the layoffs is set to come from its commercial aircraft division as customers cut back on orders.

Hundreds of executives and managers are also expected to lose their jobs.

 

The cuts account for almost 3% of Boeing's workforce, which comprised 161,000 people at the end of last year. BBC reports.

Boeing is reacting to concern that demand for its jets is slowing.

 

As of 31 December, Boeing's backlog of orders stood at 5,795, representing more than seven and a half years of production at the current rate.

 

With Boeing and Airbus factories running at full capacity, airlines have been reluctant to spend billions of dollars on aircraft that they would not receive for several years.

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