Boeing To Axe 150 Finance Jobs In US Following Flight Debacles

Boeing To Axe 150 Finance Jobs In US Following Flight Debacles
  • Boeing Co BA shared plans to cut 150 finance jobs in the U.S. in 2022 to streamline its corporate structure and focus more resources on manufacturing and product development.
  • Boeing would reduce staffing in its information technology and finance departments, Reuters reported citing an email from the company.
  • Boeing ramped up its workforce by 10,000 employees earlier this year and its engineering and manufacturing departments to respond to the market demand.
  • Following two 737 MAX crashes in 2018 and 2019, the Federal Aviation Administration (FAA) pledged to scrutinize Boeing more closely and delegate fewer responsibilities to the company for aircraft certification. 
  • The first crash killed 189 people and the second 157 people.
  • In January 2021, a Sriwijaya Air Boeing 737 that departed from the Indonesian capital of Jakarta crashed shortly after takeoff with 62 people on board.
  • In March 2022, a 737-800NG plane carrying 132 people crashed in China's southwestern province of Guangxi.
  • Recently, China's Civil Aviation Authority (CAAC) confirmed a meeting with Boeing regarding getting the 737 MAX back into service. 
  • Boeing said its Middle East fleet would likely expand to 3,400 airplanes in the next two decades to serve fast-growing passenger traffic and cargo demand.
  • Price Action: BA shares traded higher by 0.08% at $146.06 in the premarket on the last check Wednesday.
  • Photo Via Company
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