Thousands of staff at Boeing will discover early this week if they have a job as the company prepares to release details of its plan to cut 17,000 positions from its global workforce, Sylvia Pfeifer of The Financial Times reports. CEO Kelly Ortberg told employees that “restoring our company requires tough decisions” as well as structural changes, to ensure that “we can stay competitive and deliver for our customers over the long term.” The reductions will take place across the group over the next few months and will include executives, managers, and employees.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BA:
- Boeing price target lowered to $109 from $110 at Wells Fargo
- Boeing price target lowered to $195 from $235 at JPMorgan
- Triumph Group downgraded to Underweight from Neutral at JPMorgan
- Boeing sees Q3 GAAP EPS ($9.97), consensus ($1.65)
- Boeing: Commercial Airplanes sees Q3 pre-tax charges of $3B on 777X, 767