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Boeing is cutting 4,000 jobs

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Posted at 8:57 AM, Mar 30, 2016
and last updated 2016-03-30 08:57:24-04

Boeing has announced it will cut 4,000 jobs to reduce costs as it battles rival Airbus and softer demand for aircraft.

The aircraft maker said it should be able to achieve the job reductions, equal to about 2% of its worldwide staff, through normal attrition, voluntary buyouts and leaving open positions unfilled.

“We’ll only use involuntary layoffs as a last resort,” said spokesman Doug Adler.

Last month the company announced a plan to save money by cutting non-labor spending, supply chain costs and staffing levels.

Boeing also said it would cut deliveries by about 20 commercial jets in 2016, although it said that reduction was due to a transition from the 737, its best selling jet, to the 737 MAX, a new version of that plane.

It has also slashed production of some of its other older models, including the 777 and the iconic 747.

Boeing has been trimming staff for several years, including 13,000 jobs since the end of 2012, according to company filings. It had 161,400 jobs at the end of last year.

Shares of Boeing are down 9% so far this year.