Sunday, November 17, 2024
HomeBusinessBoeing sends layoff notice to 400 workers: company going through financial crisis; Plan to...

Boeing sends layoff notice to 400 workers: company going through financial crisis; Plan to cut about 17,000 jobs

Boeing has sent layoff notices to more than 400 members of its professional aerospace labor union. The company is currently grappling with a financial crisis, regulatory challenges and an eight-week machinist union strike. Affected employees will remain on the payroll until mid-January.

Boeing announced in October that it would cut 10% of its workforce (about 17,000 jobs) in the coming months. The company must reset its workforce levels to align with our financial reality, CEO Kelly Ortberg told employees.

Sangh said- 438 members were affected

  • The Society of Professional Engineering Employees in Aerospace (SPEEA) union said 438 members were affected.
  • Of the 438 workers affected, 218 are members of SPEEA's professional units. Which includes engineers and scientists.
  • In addition there are members of the technical unit. This includes analysts, planners, technicians and skilled tradespeople.
  • Eligible employees will receive career transition services and subsidized health care benefits for three months.
  • The local chapter has 17,000 Boeing employees. Mostly based in Washington, with some in Oregon, California and Utah.

Company in financial crisis, production rate slow

In January, the emergency exit door of an Alaska Airlines Boeing 737-9 Max flight collapsed at an altitude of 16.32 thousand feet and flew into the air. Arlington, Virginia-based Boeing has been in financial and regulatory trouble since the incident. The production rate has slowed down.

This image is of Boeing 737 Max plane. Its door blew off after takeoff, followed by an emergency landing.

See also  FCons Infrastructure shares fall 8% to ₹426 to list: issue price was ₹463; The company operates in the transport, construction and oil and gas sectors

Boeing 737 Max aircraft has crashed many times

Boeing launched the 737 Max aircraft in 2015. The Federal Aviation Authority (FAA) approved it in 2017. Since then it has become the most used aircraft in the world. In 2018, the plane crashed for the first time while flying under an Indonesian airline. About 189 people died then.

This was followed by another Boeing 737 Max plane crash in March 2019. In which 157 people died. Three days later the FAA grounded the plane. In 2021 Boeing paid a $2.5 billion fine to the US Department of Justice.

A company that makes airplanes, rockets, satellites

Boeing Airplane is an American company. which manufactures aeroplanes, rockets, satellites, telecommunication equipment and missiles. The company was founded on July 15, 1916 by William Boeing. Airlines from many countries use planes made by Boeing.

Boeing is America's largest exporter and is also the world's third largest defense contract manufacturer. According to media reports, the company has more than 1.5 lakh employees working in different locations around the world.

Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).

Frontpage Insights
Frontpage Insightshttps://frontpageinsights.online
At Frontpage Insights, we understand that staying informed is essential in today’s fast-paced world. That’s why we are committed to bringing you news that matters, with a focus on delivering breaking news, in-depth analyses, and insightful commentary on a wide range of topics. Our diverse coverage spans categories such as WORLD, TOP STORIES, ECONOMY, BUSINESS, SCIENCE, HEALTH, SPORTS, LIFESTYLE, and ENTERTAINMENT, ensuring that our readers have access to a well-rounded perspective on global events.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Discover more from Frontpage Insights

Subscribe now to keep reading and get access to the full archive.

Continue reading