Home News Boeing to cut 10% of work force as 1Q revenue, profit slide

Boeing to cut 10% of work force as 1Q revenue, profit slide

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Boeing to cut 10% of work force as 1Q revenue, profit slideBoeing is cutting about 10% of its work force and slowing production of planes to deal with a downturn in business that started with the grounding of its best-selling jet and has accelerated because of the coronavirus pandemic. Boeing Co. said Wednesday it has started to shrink through attrition, paying people to leave, and “layoffs as necessary.” Boeing announced the job cuts as it reported a loss of $641 million in the first quarter.

Source: Yahoo.com