Boeing to lay off 396 employees in Washington

(Reuters) -U.S. planemaker Boeing (NYSE:BA ) is letting 396 employees go at various locations in Washington, a notice on Monday from the state's Employment Security Department showed.

Monday's notice is a part of wider cuts announced in October that are expected to affect a total of 17,000 Boeing jobs, around 10% of the company's global workforce, either through layoffs, or by not filling vacancies.

Boeing is trying to get production of its strongest-selling 737 MAX back on track, after a weeks-long strike by more than 33,000 U.S. West Coast workers halted output of most of its commercial jets.

Asked for comment, Boeing pointed to earlier statements that the company is adjusting workforce levels to align with its "financial reality and a more focused set of priorities."



Boeing closed a $24.3-billion equity offering in November as the planemaker looked to strengthen its finances and preserve its investment-grade credit rating.

A similar notice in November said the company would lay off more than 2,500 workers in Washington, Oregon, South Carolina and Missouri. Washington state, where Boeing has its largest workforce of more than 60,000 people and produces most of its commercial jets, has so far been the most affected by the layoffs.

Source: Investing.com