Boeing layoffs: Second round of job cuts, fresh production: In focus

Prominent aircraft maker Boeing has laid off hundreds of employees in its second round of job cuts in the US. Nearly 900 employees took the hit in the country. But they are going to stay on payroll until February 21, according to a notice.

In October, Boeing announced the difficult decision to lay off scores of employees across different roles. The company said that it plans to cut its staff size of nearly 170,000 employees by 10%. The first round of job cuts happened last month.

Nearly 3,500 Boeing employees faced the laid off notice in the first round. Chief Executive Officer Kelly Ortberg emphasised that Boeing’s financial health is not sound and that it is eyeing to make structural changes in order to remain competitive in the market.

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Boeing subjected to major financial and legal troubles

CEO Ortberg highlighted in October that the structural changes are going to cause difficulty for Boeing’s employees, their families and the team, but that “the state of our business and our future recovery require tough actions.”

Boeing has been subjected to major financial and legal troubles in recent months. The financial challenges can be easily made out through its quarterly results. The giant recorded a loss of $6 billion in the third quarter, largely due to labour protests.

The company’s legal troubles got bigger after a crash of Boeing’s 737 Max. Recently, a US Court judge rejected the company’s plea deal. Nonetheless, Boeing has started manufacturing of its 737 Max jetliner, according to reports.