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Boeing (BA.US) pushes ahead with layoff plans: Notifies more than 400 employees of layoffs

Market IntelMonday, Nov 18, 2024 6:50 am ET

1min read

Zhitong Finance learned that Boeing (BA.US) has reportedly sent layoff notices to more than 400 members of its professional aviation union as part of a larger round of layoffs as the company continues to face financial challenges. Members of the Society of Professional Engineering Employees Association (SPEEA) reportedly received layoff notices last week, with the layoffs expected to take effect in mid-January.

Boeing said in October that it planned to lay off 10% of its workforce, or about 17,000 people, in the coming months. CEO Dave Calhoun told employees that the company must "right-size our workforce to match our financial reality."

The SPEEA union said on Thursday that the layoffs affected 438 members. The union's local chapters have about 17,000 Boeing employees, mostly in Washington, with some in Oregon, California and Utah, according to reports.

About 33,000 union workers went on strike in September, and Boeing also suspended some employees' vacations and halted production of its most popular 737 Max and other jetliners.

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