Boeing said it will slash staff and production after posting a massive first-quarter loss. Demand for air travel has evaporated during the CCP virus outbreak, and the aerospace company continues to reel from the 737 Max grounding.
The company announced it would cut 10 percent of its jobs, about 16,000 positions, through a combination of buyouts, natural attrition, and involuntary layoffs. The cuts will be deepest in Boeing’s commercial airplane unit—which will lose about 15 percent of jobs. And Boeing said it would drastically scale back production of the two widebody passenger jets, the 787 Dreamliner and the 777.
