Boeing To Layoff Staff After First Quarter Loss

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Boeing To Cut Staff After $641m First-quarter Loss.

Boeing announced sweeping cost-cutting measures on Wednesday after reporting a first-quarter loss of $641 million following the hit to the airline business from the coronavirus pandemic. The aerospace giant plans to reduce its workforce by 10 percent through a combination of voluntary and involuntary layoffs and will slash production of its main commercial planes, including the 787 and 777, Chief Executive David Calhoun said in a message to employees that accompanied an earnings release.


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