Boeing Cuts 10,000 Jobs
Boeing this week bumped up its previously announced plan to cut 4,500 jobs, and will lay off a total of 10,000 workers, the company told reporters during a conference call on Wednesday. That's about 6 percent of the company's total workforce. Boeing blamed last year's strike and the global recession for its losses. "The progress we made in many areas of Boeing during 2008 was outweighed by the impact of the strike and our performance on some key development programs," said Chairman, President, and CEO Jim McNerney in a news release. "Our imperative going forward is improving execution where it needs to be improved, maintaining strong performance across all our production programs, and preserving our financial strength to grow in these challenging economic times." The company delivered only 50 aircraft in the last quarter of 2008, but plans had called for 120. Interest in the 787 Dreamliner remains strong, the company said, with 895 orders on the books, although one customer has cancelled an order for 15 aircraft. First deliveries of the 787 are now expected in early 2010, with first flight in the second quarter of this year.
Last year's strike stalled airplane deliveries from September well into November.