Boeing starts issuing layoff notices as part of plan to cut 17,000 workers

The aerospace giant is cutting 10% of its workforce as it grapples with the fallout from the coronavirus pandemic.

Boeing has begun issuing layoff notices to employees as part of its plan to cut 17,000 jobs. The aerospace giant is cutting 10% of its workforce as it grapples with the fallout from the coronavirus pandemic.

The layoffs will affect all of Boeing's commercial airplane programs, as well as its defense and space businesses. The company said it will provide severance packages and other benefits to affected employees.

Boeing has been hit hard by the pandemic, which has caused a sharp decline in air travel. The company has also been dealing with the fallout from the grounding of its 737 MAX aircraft, which was involved in two fatal crashes.

The layoffs are a major blow to the Puget Sound region, where Boeing is the largest employer. The company has already laid off thousands of workers in the region in recent months.

The layoffs are also a sign of the challenges facing the aerospace industry, which is heavily dependent on air travel. The pandemic has caused a sharp decline in air travel, and it is unclear when the industry will recover.

Boeing's layoffs are part of a broader trend in the aerospace industry. Airbus, the European aerospace giant, has also announced plans to cut thousands of jobs. The pandemic has had a devastating impact on the industry, and it is unclear when the industry will recover.

Conclusion

Boeing's layoffs are a major blow to the Puget Sound region and to the aerospace industry. The layoffs are a sign of the challenges facing the industry, which is heavily dependent on air travel. The pandemic has caused a sharp decline in air travel, and it is unclear when the industry will recover.