Daily Management Review

Boeing To Reduce Its Workforce


04/04/2016


In an attempt to generate quick money, Boeing decides to cut down on its job numbers.



By the month of June 2016, the company of Boeing, an aeroplane maker, will be getting rid of “more than 4,500 jobs” in an attempt of cutting down costs keeping the “slowing demand for its jets” in mind, confirmed the company.
 
Lately, Boeing has been facing a rival, the French Airbus, which is stealing away its “market share”, whereby almost “1,600 positions” will be compromised through “voluntary redundancies”, while the majority will be atrophied at the commercial “aircraft unit” of Boeing.
 
The job reductions that “follow 1,200” has already made an announcement from its commercial “jet unit” in this very year, whereby it will cut down its “total workforce” that originally amounted to “161,000” at the year end of 2015. Doug Alder, a Boeing spokesperson informed Reuters:
 “While there is no employment reduction target, the more we can control costs as a whole the less impact there will be to employment”.
 
The said reduction of workforce will also includes hundreds of “executives and managers” to lose their jobs, although the company made it clear that it will not cut down jobs on “involuntary layoffs”.
 
During last year, Boeing witnessed a “big fall in new orders” for the Middle-eastern and Asian customers continued to rein in their “huge spending”; yet Boeing has “a healthy seven-year order backlog”, whereby the company needs to generate “a torrent of cash” if it wishes to recover an approximate amount of “-$30bn” of “deferred costs” that has been accumulated for creating Boeing’s “787 Dreamliner”.
 
Moreover, recently, the company also confirmed that it had to cut down on prices for countering the “increasing pressure from carriers to offer less-expensive planes”.





References:
http://www.digitallook.com/
 







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