Third Bridge global head of analysts Peter McNally discusses how the Boeing factory workers strike is impacting business on ‘The Big Money Show.’
Boeing is laying off 396 employees at locations in Washington state, Reuters reported on Monday.
The move is part of a 10% global workforce cut that the company announced in October, which is expected to impact approximately 17,000 jobs within Boeing.
A total of 2,199 Boeing workers in the state of Washington – where its workforce totals more than 60,000 – will be laid off over the next few months, Fox Business reported in November.
Another 200 or so employees will be laid off in Oregon, South Carolina and Missouri during the same timeframe.
BOEING ANNOUNCES LAYOFFS ACROSS FLORIDA AS MOUNTING CONCERNS ABOUT THE COMPANY CONTINUE TO GROW
Boeing will be laying off 396 employees in Washington state as part of the 10% cut of the company’s global workforce following a crisis-filled year. (David Ryder/Bloomberg via Getty Images / Getty Images)
According to Boeing, “only a very small number” of employees will lose their jobs in December, “while the majority will exit in mid-January.”
“Eligible employees will receive severance pay, career transition services, and subsidized health care benefits up to 3 months after exiting the company,” the company said previously.
BOEING ISSUES LAYOFF NOTICES AS AEROSPACE GIANT CUTS 17,000 JOBS
The cuts are coming through layoffs or by not filling vacancies in efforts to revamp the company following a tumultuous year that began in early January when a panel blew out mid-air on an Alaska Airlines flight.
Investigators from the National Transportation Safety Board said evidence shows four bolts that hold the door plug in place on the Boeing 737 Max 9 were missing at the time of the blowout on Alaska Airlines flight 1282. (NTSB / Fox News)
Most recently, the company was forced to stall production of its strongest-selling 737 MAX jet amid a weeks-long strike on the West Coast.
“As previously announced, we are adjusting our workforce levels to align with our financial reality and a more focused set of priorities. We are committed to ensuring our employees have support during this challenging time,” Boeing previously said to FOX Business.
A Boeing 777-9 jetliner aircraft sits on the tarmac during the 2023 Dubai Airshow at Dubai World Central – Al-Maktoum International Airport in Dubai. (GIUSEPPE CACACE/AFP via Getty Images / Getty Images)
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After the mid-air blowout and a few other safety concerns on flights across the country, Boeing dealt with the departure of its CEO and slowed production as regulators investigated the company’s safety culture.
Reuters contributed to this report.