Boeing to Cut 5,000 More Jobs Next Year

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Last updated at: (Beijing Time) Thursday, November 21, 2002

Boeing to Cut 5,000 More Jobs Next Year

Boeing expects to eliminate 5,000 more jobs next year in addition to the nearly 30,000 cuts the aerospace company has made since the 2001 terrorist attacks, the company said Wednesday.

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Boeing expects to eliminate 5,000 more jobs next year in addition to the nearly 30,000 cuts the aerospace company has made since the 2001 terrorist attacks, the company said Wednesday.

Half of the new cuts would be made through attrition and the rest through layoffs in the commercial airplane division, unit chief executive Alan Mulally said Wednesday.

The company signaled more than a month ago that it will need to make further cuts because of a long slump. Since the Sept. 11 terrorist attacks, Boeing has deferred deliveries of more than 500 jets as airlines, bleeding billions of dollars, canceled or rescheduled orders.

By the end of 2003, the commercial planes division expects to have a workforce of 60,000, from its current 65,000, spokesman Bill Cogswell said. The first layoff notices will go out on Friday, and take effect on Jan. 24, he said.

The company has spent the last few weeks trying to determine how many people it will need in the coming year to match employment with production levels, Cogswell said. The company expects to deliver between 275 and 285 jets in 2003, down from the 380 expected for this year.

Most of the new reductions will come in the Puget Sound area, Cogswell said, where Boeing builds its jetliners in factories in Everett and Renton.

The precise number of layoffs depends on the company maintaining its typical 4% to 5% attrition rate.

"We believe the employment reductions will impact all of our areas, all of our employees, nonsalaried members and executives across the board," said Cogswell.

Boeing is based in Chicago, and its commercial plane division is based in Renton.

Source: Agencies

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