Life

Boeing Cutting Nearly 7,000 More Jobs

After already laying off more than 5,500 employees through a voluntary program, Boeing announced today that another 6,770 will be released involuntarily as the planemaker contends with declining demand amid the ongoing coronavirus crisis.

More layoffs are expected as CNBC reports the manufacturer wants to reduce its workforce by 10%. Boeing employed 160,000, according to the company’s 2019 annual report.

Boeing had already been under pressure because of the two 737 Max crashes which grounded the planes worldwide. Boeing generated $25 billion in debt sales last month, without accepting federal aid, in an effort to survive the crisis.

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