Boeing’s commercial jets unit to cut jobs in 2017 | Reuters

Boeing Co’s (BA.N) commercial airplanes unit said on Monday it would reduce its workforce in 2017, adding to the about 8 percent jobs the company has cut since the beginning of 2016.The company is offering a voluntary layoff program in early 2017, adding that involuntary layoffs may occur in some cases, Boeing Commercial Airplanes (BCA) said in an internal memo.This year’s job cuts include a 10 percent reduction of executives and managers.BCA said it would focus on reducing non-labor costs next year amid a tough competitive environment for its aircraft business.

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Boeing said last week that it would cut production of its twin-aisle 777 jetliner to five a month in August 2017, a 40 percent reduction from the current rate of 8.3 a month, as it spends more to produce new models.

Reuters reported in February that Boeing was considering layoffs of airplane engineers.A spokesman for the division said that employees participating in the voluntary layoff program will receive a lump sum payment of one week’s pay for each year served, for a maximum of 26 weeks.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Sriraj Kalluvila and Saumyadeb Chakrabarty)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Dec 20, 2016 01:15 IST

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