Peter McNally, global head of analysts at Third Bridge, discusses on ‘The Big Money Show’ how the Boeing factory strike is affecting the business.
Boeing is laying off 396 employees at multiple locations Washington State, Reuters gave this news on Monday.
The move is part of 10% global workforce cuts announced by the company in October, which is expected to impact about 17,000 jobs within Boeing.
Fox Business reported in November that a total of 2,199 Boeing workers in Washington state — where it has more than 60,000 employees — would be laid off over the next few months.
Another 200 or more employees in Oregon, South Carolina and Missouri will be laid off during the same time frame.
Boeing announces layoffs across Florida as concerns continue to grow about the company
Boeing will lay off 396 employees in Washington state as part of a 10% reduction in the company’s global workforce following a troubled year. (David Ryder/Bloomberg via Getty Images/Getty Images)
According to Boeing, “only a very small number”. employees will lose their jobs in December, “while the majority will move out in mid-January.”
“Eligible employees will receive severance pay, career transition services and subsidized health care benefits for up to 3 months after leaving the company,” the company previously said.
Boeing issues layoff notice, aerospace giant cuts 17,000 jobs
The cuts, either through layoffs or not filling vacancies in efforts to revive the company, come after a tumultuous year that began in early January when a panel was shut down midway. Alaska Airlines flight.
National Transportation Safety Board investigators said evidence shows that four bolts holding the door plugs of the Boeing 737 Max 9 were missing at the time of the explosion aboard Alaska Airlines Flight 1282. (NTSB/Fox News)
Recently, a week-long strike on the West Coast forced the company to halt production of its best-selling 737 Max jet.
Boeing previously told Fox Business, “As previously announced, we are adjusting our workforce levels to align with our financial reality and a more focused set of priorities. We are working to ensure “We are committed to ensuring our employees are supported during this challenging time.”
A Boeing 777-9 jetliner aircraft sits on the tarmac during the 2023 Dubai Airshow at Dubai World Central – Al-Maktoum International Airport in Dubai. (Giuseppe Cassese/AFP via Getty Images/Getty Images)
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Following the mid-air explosion and some other safety concerns on flights across the country, Boeing settled Its CEO departed and production slowed as regulators investigated the company’s safety culture.
Reuters contributed to this report.
