Boeing's third 777X aircraft departing on a test flight. Boeing Boeing expects staff numbers to fall to 130,000 by the end of 2021, which would be a near 20% drop in head count from the start of the year. The company recorded a $466 million loss in the quarter to September, making it the fourth straight quarterly loss for the aircraft giant. Its defense, space, and security division fared much better than its commercial aircraft sales as airlines continue to struggle due to travel restrictions. The company "remain[s] confident in our long term future," said CEO, Dave Calhoun. Visit Business Insider's homepage for more stories. Aircraft giant Boeing reported its fourth straight quarterly loss and thousands of further expected job cuts on Wednesday as the coronavirus crisis and the 737 MAX jet grounding hurt sales.While the earnings results weren't good, they weren't as bad as many analysts were expecting.As flight numbers dropped during the pandemic, so have Boeing's staff numbers.Boeing previously announced it would be cutting 10% of its workforce – but now it expects its staff to drop to 130,000 by the end of 2021, it said in a staff note.
Boeing Posts Fourth Straight Quarterly Loss And Tells Staff To Prepare For More Job Cuts
insider@insider.com (Grace Dean,Reuters), Business Insider
Wed, 10/28/2020 - 7:11am
Topics: visit business aircraft emirates covid-19 f-15ex us air force international space station nasa boeing ceo dave eric m johnson ankit ajmera reuters grace dean boeing september ceo dave calhoun business insider max staff job cuts fourth straight quarterly loss company billion drop year flight pandemic travel head recorded defense numbers million giant long fared test expects division commercial count security future term confident reported announced airlines total revenue workforce fell
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