Boeing to Cut up to 8,000 Jobs

The world’s largest plane maker is seeking to cut costs in a bid to stay competitive with Airbus.

Boeing 737 MAX
Boeing plans to cut jobs as it prepares to introduce the 737 MAX.Boeing

Boeing plans to cut up to 8,000 jobs this year to reduce costs and stay competitive with Airbus amid softening demand for the 747 and 777.

The world’s biggest plane maker said it will slash as many as 4,000 jobs by midyear, with cuts coming first from attrition as employees retire or leave for other positions.

But Boeing could be forced to trim a larger portion of its workforce, up to 8,000 employees including executives and managers, in the year's second half if it can't rein in costs, according to a report in the Seattle Times.

In an email to employees, Boeing said forced layoffs would be a “last resort” as the company restructures.

Boeing is boosting production of the 737 and preparing for the introduction of the 737 MAX, while also accelerating Dreamliner production. Soft demand for cargo planes has hurt Boeing’s bottom line.