November 14, 2024 – Boeing, the aerospace giant, is set to begin notifying employees this week about its plan to eliminate 17,000 jobs, accounting for 10% of its global workforce. This downsizing is part of the company’s previously announced restructuring plan.
In a statement, Boeing declared, “As previously announced, we are resizing our workforce to align with our current financial situation and strategic priorities. We are committed to supporting our employees during this challenging time.”
Indeed, Boeing has been grappling with financial difficulties this year. In late October, the company raised over $24 billion to bolster its shaky financial position and preserve its investment-grade rating.
The year has been tumultuous for Boeing, starting with an incident on January 5th when a 737 MAX aircraft lost a door panel in flight. Since then, the company has seen its CEO depart, production lines slow due to regulatory investigations, and its largest union went on strike on September 13th.
The strike, involving over 33,000 workers on the West Coast of the United States, lasted nearly two months, halting the production of most of Boeing’s commercial aircraft. Boeing’s new CEO, Kelly Ortberg, is now striving to resume 737 MAX production.
A Boeing spokesperson commented on Tuesday that restarting mass production at the Washington and Oregon factories involves several steps, including reassessing potential hazards, reestablishing machinists’ duties and safety requirements, and ensuring all training qualifications are up to date.
