By Matthew Roscoe • Published: 28 Oct 2020 • 14:43
JET airline maker Boeing plans to cut thousands more jobs after suffering more losses.
The coronavirus pandemic has been destroying the aviation industry and looks set to do more damage to Boeing after it posted its fourth quarterly loss in a row on Wednesday, October 28.
Now, Boeing plans to cut its workforce by around 30,000 people this year, which has risen significantly from a previous target of around 19,000 job cuts.
After suffering more losses due to the pandemic and the 19-month-old worldwide 737 MAX ban triggered by two fatal accidents, a statement made to the AP revealed:
“Boeing will cut more jobs as it continues to bleed money and lose revenue during a pandemic that has smothered demand for new airline planes.
“The company said that it expects to cut its workforce to about 130,000 employees by the end of next year, down 30,000 from the start of this year. That is far deeper than the 19,000 reductions that the company announced three months ago.
“Boeing Co. updated its jobs plan on the same day it reported a $449 million (€382 million) loss for the third quarter, a swing from the $1.17 billion (€1 billion) it earned in the same period last year. The loss was narrower than analysts expected, however.”
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Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.
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