Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Senegalese photographer's flashbacks to Africans throughout history

Read more

MEDIAWATCH

Hollande photographed with Julie Gayet on Elysée Palace balcony

Read more

REVISITED

Is Beirut still haunted by ghosts of the civil war?

Read more

THE WORLD THIS WEEK

Band Aid 30 - Hit or Miss? Bob Geldof in Hot Water over Ebola Single

Read more

THE WORLD THIS WEEK

Deal or No Deal with Iran? Home Stretch to Reach Historic Agreement

Read more

FRANCE IN FOCUS

Football scandals: The ugly side of the beautiful game

Read more

#THE 51%

Ending violence against women: The dangers of trial by Twitter

Read more

#TECH 24

Tech giants under scrutiny: The problem with Uber

Read more

FOCUS

Inside an Iranian nuclear research reactor

Read more

Business

Boeing to cut over 4,000 jobs

Latest update : 2009-01-27

US aircraft manufacturer Boeing announced it would shed around 4,500 jobs starting February and lower its total workforce to 63,500, roughly the number it had at the start of 2008.

AFP - US aerospace giant Boeing said Friday it would cut about 4,500 jobs beginning next month amid a weakening global economy.
  
"We are taking prudent actions to make sure Boeing remains well-positioned in today's difficult economic environment," said Scott Carson, chief executive of Boeing's Seattle-based Commercial Airplanes business unit.
  
Employment at Commercial Airplanes was "expected to decline by approximately 4,500 positions in 2009 as part of an effort to ensure competitiveness and control costs in the face of a weakening global economy," the company said in a statement.
  
The job cuts will bring the unit's workforce to about 63,500, similar to the level it was at the start of 2008, the company said.
  
"We regret the disruption to those affected by this decision," Carson said, adding that the move would enable it to adapt to market uncertainties, meet customer commitments, continue investments and protect competitiveness.
  
Boeing also said the Commercial Airplanes unit had begun a program to reduce overhead costs and discretionary spending.
  
"Although normal attrition and a reduction in contract labor will account for some of the job reductions, layoffs of Boeing employees also are necessary," the statement said.
  
Many of the job cuts will be in overhead functions and other areas not directly associated with airplane production.
  
Most of the reductions are expected to occur in Washington state in the second quarter of the year, with affected employees to receive 60-day notices beginning in late February, Boeing said.
  
Laid-off employees wll receive benefits and "career-transition" services, Boeing said.
  
Commercial Airplanes began 2008 employing more than 63,000 people, including contract labor, and increased employment to nearly 68,000 by year-end.

Date created : 2009-01-09

COMMENT(S)