Boeing to cut 150 financial sector jobs in the United States following airline debacles – Boeing (NYSE:BA)

  • Boeing Company BA shared plans to cut 150 finance jobs in the United States in 2022 to streamline its corporate structure and focus more resources on manufacturing and product development.
  • Boeing would reduce staff in its information technology and finance departments, Reuters reported citing an email from the company.
  • Boeing increased its workforce by 10,000 employees earlier this year and its engineering and manufacturing departments to meet market demand.
  • Following two 737 MAX crashes in 2018 and 2019, the Federal Aviation Administration (FAA) has pledged to take a closer look at Boeing and delegate less responsibility to the company for aircraft certification.
  • The first crash killed 189 people and the second 157 people.
  • In January 2021, a Sriwijaya Air Boeing 737 departing from Jakarta, the Indonesian capital, crashed shortly after takeoff with 62 people on board.
  • In March 2022, a 737-800NG plane carrying 132 people crashed in southwestern China’s Guangxi province.
  • Recently, the Civil Aviation Authority of China (CAAC) confirmed a meeting with Boeing regarding the return to service of the 737 MAX.
  • Boeing said its Middle East fleet would likely expand to 3,400 planes over the next two decades to meet rapidly growing passenger traffic and cargo demand.
  • Price action: BA shares traded up 0.08% at $146.06 pre-market when last checked on Wednesday.
  • Photo via company

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