Boeing Might Let Go More of its Employees After $2.4 Billion in Loss

Boeing has been manufacturing planes for a long time now. It has introduced some of the best and top in class aircraft to the market. But due to the current pandemic, things aren’t going too well for the aircraft manufacturer. Boeing just reported the financial results of the last quarter. The report reflected a $2.4 billion loss for the company. This going to have a major impact on Boeing. It might be looking to save money by trimming down the staff even further. This won’t be the first time Boeing let go of its employees in the last few months. Back in May, the aircraft manufacturer let go of more than 6,000 of its employees in a bid to save money.

Read More - American Airlines Grounded Boeing 737 Max Might Return by Year End

Boeing to Fire More Employees

The loss for Boeing brought down its revenues by 25% to $11.8 billion. The company is going to let go of more people. This was hinted in a statement by Dave Calhoun, Chief Executive of Boeing. He said the company, “will have to further assess the size of our workforce”. This is not great news for the employees of the company. Along with that Boeing will be looking to trim down its production of new aircraft. The plane production schedule is going to be modified. Calhoun also said that the company will be stopping the production of 747 for now. As for the Boeing 737, the company would be continuing with the production of it but at a much slower rate than previously planned. The 737 Max which has been grounded since March last year might also make it back to the skies. This was conveyed by Robert Isom, president of American Airlines. He said that the airline and Boeing are working closely on the ungrounding of the 737 Max for a long time now. It all depends on the approval from the Federal Aviation Administration (FAA). If everything goes as planned, the airline might roll the Boeing 737 Max back into services by December 2020.