AEROSPACE

Boeing to cut 10,000 jobs

US aerospace giant Boeing said it will slash 10,000 jobs in the coming years in light of the weakining global economy. Earlier, the company posted a loss of $56 million in the fourth quarter.

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AFP - Boeing will reduce its workforce by some 10,000 this year in response to the global economic crisis, chief executive Jim McNerney said Wednesday.

"The global economy continues to weaken, and it's affecting air traffic and financing," McNerney said after the aerospace giant released its quarterly results.

"We must prepare the company, including being more aggressive in terms of productivity."

He said the 10,000 cuts would be made "through attrition, retirement and layoffs," and included a figure announced earlier of 4,500 in the commercial aircraft division.

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