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Boeing to Cut 7,000 More Jobs as Hopes for Cash Comeback Fade

Oct. 28, 2020, 10:33 PM

Boeing Co. is almost doubling its planned job cuts as the coronavirus pandemic and prolonged grounding of the 737 Max jet dim prospects for a financial recovery next year.

With the outlook for aircraft sales still uncertain, executives abandoned a forecast that Boeing would stop burning cash next year and said they would eliminate an additional 7,000 jobs. That will bring the expected loss from layoffs, retirements and attrition to 30,000 people by the end of 2021 -- or 19% of the pre-pandemic workforce. Boeing announced a 10% cut earlier this year.

The planemaker is “taking tough but necessary action ...

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