Boeing Cuts Loose 10% of its Workforce

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Boeing had a huge loss last year when their 737 Max line was grounded by aviation authorities. This coupled with a hit from the coronavirus pandemic has led the company to downgrade its workforce by about 16,000 people. CEO David Calhoun recorded a video message that was delivered to the employees this week, saying: “We have begun taking action to lower our number of employees by roughly 10 percent through a combination of voluntary layoffs, natural turnover and involuntary layoffs as necessary.” Boeing plans to restart production of the 737 Max in 2021, but Calhoun warns that even at peak production of the new iteration of the plane, the output would not be nearly as high as before.

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