BUSINESS

Boeing Set To Cut Jobs

Boeing says it is eliminating more than 12,000 U.S. jobs, including involuntary layoffs of 6,770 US workers as the largest American planemaker restructures in the face of the coronavirus pandemic.

 Boeing also disclosed it plans several thousand remaining layoffs in the next few months but did not say where those would take place.

The company announced in April it would cut 10% of its worldwide workforce of 160,000 by the end of 2020.

Boeing shares rose 0.7% in mid-day trading to $145.76.

Nigel Bell, Readers Bureau, Fellow

Edited by Jesus Chan

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