Boeing plans to cut 4,000 jobs by June

Seattle, Washington – Boeing Commercial Airplanes has taken steps expected to eliminate 4,000 jobs by June, the Seattle Times is reporting – and that number may be only half of the total cuts this year.

 

Boeing Commercial Airplanes CEO Ray Conner announced a drive to cut the workforce six weeks ago in an internal company webcast. A Boeing official said March 29, 2016, the initial jobs eliminated include “hundreds of executives and managers” and that the cuts will be achieved through normal attrition and a voluntary buyout package for about 1,600 employees.

 

The workforce reduction is reportedly part of an effort to squeeze supplier costs; increase productivity; shrink inventory; and cut travel, overtime, services, and contractor expenses to eliminate billions of dollars in cost by the end of 2016. If enough savings cannot be found elsewhere and more job cuts are required, layoffs would come later in the year, the Boeing official said.

 

Read the full Seattle Times story here.