Boeing lays off 16,000 workers
But was just given taxpayer dollars as a bailout.
Fuck. Boeing. The corporate equivalent of Trump.
https://www.barrons.com/articles/boeing-layoffs-workers-aerospace-51586531617
The Wall Street Journal reported Friday that Boeing is considering a 10% reduction to its workforce. That could be a sign for investors that Boeing doesn’t believe the outlook for commercial aerospace is as rosy as it once was.
Furloughs, layoffs, worker reassignments and buyouts have been difficult to keep track of for investors. Layoffs at Boeing could spread beyond the company, and in turn affect tens of thousands of American factory workers.
The entire aerospace value chain has reacted as quickly as possible to minimize the impact of the severe downturn in air travel. Only about 97,000 people passed through TSA checkpoints on April 7, down about an incredible 95% year over year.
Boeing (ticker: BA) originally suspended Seattle area production around March 23 and said then it would continue to pay workers for 10 days. On April 2, the company announced a voluntary layoff plan for employees that might like to exit from the business permanently. Boeing extended the production shutdown on April 5. There was no timeline given in the most recent release.
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