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Boeing will cut 16,000 jobs after posting a massive loss

 
Fingulas

User ID: 77491745
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04/29/2020 02:06 PM
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Re: Boeing will cut 16,000 jobs after posting a massive loss
After they took the paycheck money for those same employee
 Quoting: Anonymous Coward 78007325


If they don't spend 75% of the money on actual paychecks they owe the entire bailout back WITH interest.

If you read the report, very few are getting forced out. Mostly through normal attrition and retirements like they say.

They can get rid of a few, but the strings attached to the bailout don't allow sudden, mass, layoffs. Those bailouts are like student loans, gonna be hard / impossible to discharge in bankruptcy.
nobody
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04/29/2020 02:18 PM
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Re: Boeing will cut 16,000 jobs after posting a massive loss
[link to edition.cnn.com (secure)]

New York (CNN Business)Boeing said it will slash staff and production after posting a massive first-quarter loss. Demand for air travel has evaporated during the coronavirus outbreak, and the aerospace company continues to reel from the 737 Max grounding.

The company announced it would cut 10% 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 -- about 15% of jobs. And Boeing said it would drastically scale back production of the two widebody passenger jets, the 787 Dreamliner and the 777.
 Quoting: Anonymous Coward 78855053


Thread: Orange man says: "boeing good, boeing great!" How do you feel about your taxes going to ceo paychecks?

epiclol
Concorde Warrior F-BVFA

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04/29/2020 02:21 PM

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Re: Boeing will cut 16,000 jobs after posting a massive loss
[link to edition.cnn.com (secure)]

New York (CNN Business)Boeing said it will slash staff and production after posting a massive first-quarter loss. Demand for air travel has evaporated during the coronavirus outbreak, and the aerospace company continues to reel from the 737 Max grounding.

The company announced it would cut 10% 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 -- about 15% of jobs. And Boeing said it would drastically scale back production of the two widebody passenger jets, the 787 Dreamliner and the 777.
 Quoting: Anonymous Coward 78855053


Airbus are in no better shape than Boeing. Major airlines aircraft that are fairly new are being put in storage maybe for years.

Airbus says virus aviation crisis still at 'early stage'

PARIS (AP) -- Airbus reported 481 million euros in losses in the first quarter, put thousands of workers on furlough and sought billions in loans to survive the coronavirus crisis -- and its CEO said Wednesday the aviation industry's unprecedented troubles are still at an "early stage."

Even after virus-related travel restrictions eventually ease, Chief Executive Guillaume Faury acknowledged it will take a long time to persuade customers to get back on planes. Just how long, he can't predict.

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Anonymous Coward
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04/29/2020 02:31 PM
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Re: Boeing will cut 16,000 jobs after posting a massive loss
The 737 Max is fixed. It was a switch to balance fuel and needed to be switched off on takeoff. Because the third-world airlines did not train their pilots thoroughly, the switch was left on and the takeoff crashes resulted. Note, no first world crashes occurred.

Unfortunately, aviation and every aviation job except for cargo flying is on the wane. Which is horrible for an entire industry. Boeing is 3% of the US economy. Anyone wishing them bad is crazy. The Boeing plant has never been shut down, until now. They have a new CEO and they are a good employer.

And they are an American company.peace
 Quoting: Peaceplz


well, circumstances seem to be bulldozing and burying them.
Berry
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04/29/2020 03:13 PM
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Re: Boeing will cut 16,000 jobs after posting a massive loss
This is why insleez opened up fishing in the state . so they can eat when the unemployment money is burned up. What a nice guy .
Xeven

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04/29/2020 03:40 PM
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Re: Boeing will cut 16,000 jobs after posting a massive loss
New Chairman thinks India will save him.
I reserve the right to declare my comments and posts as satire. Nothing I post should be considered or interpreted as advocacy for illegal activity. My comments are designed to inspire critical political thinking. I only mean half of what I say and only say half of what I mean.
Xeven

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04/29/2020 03:42 PM
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Re: Boeing will cut 16,000 jobs after posting a massive loss
They fucked themselves by using Indian programmers. These people are stupid. Boeing deserves their failure.
 Quoting: Chip


And they are ramping this up.
I reserve the right to declare my comments and posts as satire. Nothing I post should be considered or interpreted as advocacy for illegal activity. My comments are designed to inspire critical political thinking. I only mean half of what I say and only say half of what I mean.
Anonymous Coward
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04/29/2020 03:45 PM
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Re: Boeing will cut 16,000 jobs after posting a massive loss
Then comes the BIG fail and the want of a bail out from the people it wouldn't hire.





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