Job Cuts Reported to Be Coming at Boeing This Week

Boeing (NYSE: BA) is reportedly close to announcing a wave of job cuts designed to right-size the business and help the company weather the COVID-19 pandemic.

The company said in early April it would offer early retirement and buyout packages to its workforce, part of a broader retrenchment in response to an expected fall in demand for new commercial aircraft. Airlines have seen travel fall to near-zero during the pandemic, and have responded by cutting costs, grounding planes, and putting off expansion plans.

Image source: Boeing.

Source Fool.com