Boeing starts issuing layoff notices as part of plan to cut 17,000 workers

WASHINGTON (Reuters) -Boeing said on Wednesday it is issuing layoff notices starting this week to workers impacted by a broader plan by the heavily indebted planemaker to cut 17,000 jobs, or 10% of its global workforce.



U.S. staff receiving the notices this week will stay on Boeing (NYSE:BA )'s payroll until January to comply with federal requirements that give workers 60 days' notice prior to ending their employment. News that Boeing would send out the Worker Adjustment and Retraining Notification (WARN) in mid-November was widely expected.

“As previously announced, we are adjusting our workforce levels to align with our financial reality and a more focused set of priorities," Boeing said in a statement. "We are committed to ensuring our employees have support during this challenging time."

Source: Investing.com