7,000 More Job Cuts
In response to the Covid pandemic and reduced orders, Boeing Announces More Job Cuts.
Boeing Co. said it is reviewing jet production levels and plans to shed another 7,000 jobs by the end of next year in response to the mounting toll on the global airline industry from a fresh global surge in coronavirus cases.
The company expects to end next year with around 130,000 employees, having started 2020 with a workforce of 160,000, with the cuts including some layoffs.
Boeing’s sales fell 29% in the latest quarter from a year ago and the company burned through $4.8 billion in cash, further evidence of the mounting financial cost from the MAX crisis and fallout from the coronavirus pandemic.
October Cuts Coming
Airlines announced major job cuts in October if there was not another Covid package in Congress. There wasn’t.
Mass Airline Layoffs On Deck and They Will Hurt Trump
On September 30, I commented Mass Airline Layoffs On Deck and They Will Hurt Trump
American’s plan to cut 19,000 jobs will hit Arizona, North Carolina, and Pennsylvania. Spirit will cut about 1,000 jobs in Florida. United expects to furlough around 12,000 workers, even after reaching an agreement with its pilots’ union on Monday to avoid almost 4,000 job cuts. In addition, WARN filings show that there will be thousands more layoffs in these states from smaller airlines, concessionaires, airport restaurants, and other ancillary services.
That snip was courtesy of Bloomberg Mass Airline Layoffs in Swing States Would Further Imperil Trump.
And with a new Covid outbreak nationally, more restaurants will be shuttering.
Mish
Raytheon announced yesterday during is conference call it would be laying off an additional 5000 at its Pratt-Whitney and Collins Aerospace divisions due to the continued low air traffic. The impact extends to the many machine shops in New England.
I”M still predicting this plane dies a premature death. Nobody wants it
Boeing’s affirmation of its plan to build 31 of its single-aisle aircraft each month by early 2022 “suggests either (1) confidence in getting customers to accept most of the 450 Maxes in inventory for delivery in 2021 or (2) willingness to take longer to pare the Max inventory,” said Cai von Rumohr, an analyst at Cowen & Co.
American Airlines told investors this month that it had deferred 18 Max deliveries for two years. Boeing reported 983 orders this year in which the customer either cancelled or may have lacked the financial soundness to complete the sale. Almost all were Max jets.
I’ll never fly on one. Not that it matters anymore, my industry and livelihood no longer exist.
Seems like the bad design elements of the Max are not really easy to fix…..from what I read….but I’m not an engineer. There might be something to be said for just eating it now and starting with a clean slate. I doubt they ever restore confidence in this model.
Not sure how you keep from flying on one…I never know what kind of plane I’m flying on until I get on it. Most people shop price, not plane, when buying tickets.
You are always told the plane before you book
I always use Expedia….I never even paid attention to that, I guess. I won’t bail just because it’s a Max anyway. I expect the pilots are able to deal with the plane’s weirdness, now that the problems are better understood, and the fly-by-wire is not in charge.
I started booking business class. Not all layouts are the same. I pay attention to plane, seat layout and airline. I like business class in Lufthansa when they use Airbus. B.A. has you sitting head to toe. It’s all different
I commuted from DC to LA for a year and a half. I would only get on a Jet Blue A320 in an exit seat. You learn the difference.
yes but from what I am reading here in the middle west the Boeing fighter jet production is doing fantastic
That doesn’t help the 7000 that are about to lose their jobs.
Mind you, from what I can glean from recent news reports about USA, China tensions you might need them soon.
If Boeing and Wells Fargo disappeared from face of the earth why would that be bad ?
Please feel to move somewhere else that makes you happy. Trump will have another 4 years and you will spend all of it here whining
I guess if Trump loses you can always retreat into your fantasy world, if you’ve even ventured outside of it.
So you are telling us to bow down to the elected king? That’s not very American.
Since we are $7 trillion deeper into debt thanks to the policies and decisions of Donald Trump and both Republicans and Democrats, as this is added to the total sin of the last administration, I remind you that you will have four more years of being a happy tax slave if Trump does pull off the miracle. If he doesn’t you will be a miserable tax slave.