Boeing (BA) May Cut Up to 1700 Engineering Jobs
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Overall Analyst Rating:
NEUTRAL (
Down)Dividend Yield: 2.4%
Revenue Growth %: -7.9%
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Boeing (NYSE: BA) will staring issuing layoff notices to engineers beginning tomorrow, according emails obtained by Bloomberg. Notices will be sent out to 700 employees, with up to 1000 more cuts planned by the end of the year.
The reduction relates to a shift away from development work on the 747-8 and 787-9. Meanwhile, work on the 777-x and 787-10 has not yet been approved.
Cuts could be less if Boeing is able to reduce contract labor.
The reduction relates to a shift away from development work on the 747-8 and 787-9. Meanwhile, work on the 777-x and 787-10 has not yet been approved.
Cuts could be less if Boeing is able to reduce contract labor.
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