4/29, 2:17 PM (Source: TeleTrader)
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Boeing to layoff 10% staff after grim Q1 report

After reporting disappointing financial results for the first quarter of the year, Boeing's CEO Dave Calhoun revealed the company will have to reduce its staff by 10% amid the coronavirus-related halt in air travel.

Calhoun added the company "will have to make an even deeper reduction in areas most exposed to the condition of commercial customers - more than 15% across commercial airplanes, service businesses and corporate functions."

Boeing is caught in serious troubles, Calhoun recently confirmed, saying air travel demand won’t recover for at least two or three years and that during the process of recovery the company will be unable to pay dividends to shareholders.

Breaking the News / ND