Boeing Co. sets to butcher up to 12,000 US jobs, thousands more planned

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Boeing Co. sets to butcher up to 12,000 US jobs, thousands more planned

On Wednesday, the Chicago, Illinois-based low-cost aircraft carrier maker, Boeing Co., which had lost its aviation industry crown to Europe’s Airbus SE last year following an inexplicable nosedive in deliveries and a soaring cancellation of orders after a mass grounding of its best-selling 737 MAX over a potential glitch at its autopilot software, said that the world’s second-largest planemaker was going to slice up more than 12,000 jobs in the United States including an involuntary layoff of 6,770 employees, as the ailing US planemaker, which had already been in a path towards perilous decimation before the onset of the pandemic outbreak with a halt of all of its production lines of 737 MAX, appears to be working out a revamp to battle past the pandemic outbreak.

Apart from that, as the Illinois, Chicago-based American multinational aerospace industry giant, has been rushing on to slashing expenses to mitigate a steep drop in demands, which just got worsened amid the pandemic outbreak after a mass grounding of its best-selling 737 MAX as beforementioned, the American aviation industry Goliath had also told in its Wednesday’s statement that the once-cherished, but shrining aerospace industry tycoon had plans to cut off tens of thousands of jobs over the coming months, however, Boeing Co.

had declined to disclose the locations where the job slashes might take place.

Boeing to slash 10% of workforce by end-2020, restarts 737 MAX production at a “low rate”

In tandem, Boeing Co. had also added in the statement that released late on Wednesday that the low-cost planemaker had restarted 737 MAX production at a “low rate” at its Renton factory in Washington, eventually uplifting the planemaker’s NYSE-listed shares’ prices as much as 4.6 per cent to $155.84 on the day’s after-market trading, however, the company had also warned that it would trim up to 10 per cent of its worldwide workforce by end-2020 which stands at 160,000 to date.

Besides, shares’ prices of Boeing Co. were trading 3.38 per cent higher to $154.55 on Thursday morning US trading hours following a roughly 3.8 per cent rise in the pre-market trading.