Boeing woes point to steep job cuts and slashed production
By Dominic Gates / The Seattle Times
Following the grounding of the best-selling 737 Max that has severely strained Boeing’s resources for 13 months, the coronavirus pandemic has now grounded most of the rest of the global commercial jet fleet. As Boeing’s leadership reckons with the new reality that right now few airlines can take the planes they have on order, it will soon be forced to slash planned production rates — a prospect that could bring steep job losses.
If a recovery to former levels of air travel stretches into years, as some experts project, the collapse in the company’s business could rival the three years after the 9/11 terrorist attacks, when management cut production almost in half and 27,000 Boeing jobs in this state melted away.
A former senior Boeing leader, who asked for anonymity to speak freely about the situation, said that to conserve cash and stay in business, production cuts could again go that deep.
“It’s easy to think they’ll go back to not more than half of what they were at peak,” he said.
https://www.heraldnet.com/business/boeing-woes-point-to-steep-job-cuts-and-slashed-production/