3 sources·Business

Boeing Announces Layoff of Over 400 Workers Amid Financial Struggles

Boeing is cutting more than 400 jobs as part of a larger plan to reduce its workforce by 10%, struggling with financial issues post-strike.

The distribution of story sources: left-leaning (blue), center (light gray), and right-leaning (red).
Reliable
The underlying sources consistently report facts with minimal bias, demonstrating high-quality journalism and accuracy.
Balanced
The underlying sources are either a balanced mix of left and right or primarily centrist.
Subscribe to unlock this story

We really don't like cutting you off, but you've reached your monthly limit. At just $3/month or $30/year, subscriptions are how we keep this project going. Start your free 7-day trial today!

Get Started

No highlights available for this story.

Updated: Nov 16th, 2024, 10:15 PM ET

Summary

A summary of the key points of this story verified across multiple sources.

Boeing has issued layoff notices to over 400 members of the Society of Professional Engineering Employees in Aerospace as it embarks on significant job cuts amounting to 10% of its workforce. This decision follows a prolonged eight-week strike by machinists, which alongside financial and regulatory issues, has prompted the company to realign its staffing levels. The layoffs will impact engineers, scientists, and technical workers, with eligible employees receiving transition services and severance packages. Boeing has faced ongoing financial troubles, exacerbated by a production cap from the FAA and recent incidents affecting its aircraft.

Perspectives

Compare opinions on this story from liberal (Left), conservative (Right) or center-leaning news organizations.

This story is either non-partisan or does not have the required sources to create partisan perspectives.