Boeing layoffs continue with 4,000 workers on their way out

Boeing layoffs 2016

Boeing has announced plans to cut 4,000 jobs as the airline manufacturer battles against Airbus and attempts to reduce costs based on softer than expected demand.

The 4,000 jobs would equal about 2% of its worldwide staff. The company will cut positions through normal attrition, voluntary buyouts, and by leaving unfilled positions open.

“We’ll only use involuntary layoffs as a last resort,” said spokesman Doug Adler.

The cuts shouldn’t come as a surprise, in February the company said it was cutting non-labor spending, supply chain costs, and staffing levels.

Boeing has forecast a cut of about 20 commercial jets in 2016. Those lower than expected delivery numbers are based on the company’s transition from its best-selling 737 to the 737 MAX.

The company has also reduced orders on older models including the 777 and 747.

This isn’t the first round of Boeing layoffs in recent years. Since 2012 the company has reduced its staff by 13,000.

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At the end of 2015 Boeing employed 161,400 jobs.

The company’s shares are down 9% from the start of the year.

Boeing shares down 9 percent

Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at