Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Togo : will president Faure Gnassingbe win a third 5-year term ?

Read more

MEDIAWATCH

Controversy reigns 100 years after the Armenian genocide

Read more

THE WORLD THIS WEEK

Migrant Deaths: Politicians Divided after Emergency EU Summit

Read more

THE WORLD THIS WEEK

The G-Word: Turkey and the Armenian Genocide

Read more

FRANCE IN FOCUS

What will the new French healthcare bill change?

Read more

#TECH 24

Space Special: Happy Birthday, Hubble!

Read more

FOCUS

Video: Meeting Marseille's Armenian community

Read more

REPORTERS

Saving French soldiers' WWI trench carvings

Read more

ENCORE!

Armenia, 100 years on

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)