Industry & Business

Boeing to cut 4,500 jobs by 2017

 Breaking News
  • Arkphire Secures New Investment IT solutions and networking company, Arkphire, has announced that Bregal Milestone, a private capital firm, has completed an investment into the business. The investment by Bregal Milestone comes from their new €400 million pan-European fund dedicated to investing in high-growth European companies. Typical commitments from Bregal Milestone range from €20 million to €60 million. Arkphire provides [...]...
  • Government Investment in Research & Development Amounts to Over €750 Million in 2018 The latest figures on Government investment in research and development (R&D), published by the Department of Business, Enterprise and Innovation, show that over €750 million is estimated to have been invested in R&D in 2018. The data in The Research and Development Budget 2017-2018 publication is compiled from a comprehensive survey of thirty Government Departments [...]...
  • Smart Dublin in Partnership With Enterprise Ireland Award 21 New Innovation Contracts Approximately €700,000 is to be awarded to companies under Enterprise Ireland’s Small Business Innovation Research (SBIR) initiative which will enable them explore innovative solutions to address challenges faced by Local Authorities. 21 companies have been awarded Phase One funding to progress the feasibility of their solutions. Phase One funding will allow each recipient to carry [...]...
  • Tourism Industry Barometer Reflects Buoyant Year But Hints at Brexit Concerns Tourism performance throughout 2018 continues to be on a strong footing, according to the latest Fáilte Ireland Tourism Barometer. The survey of more than 500 tourism businesses around the country shows over half of the tourism industry is reporting their business to be up, with two thirds (64%) saying that tourism agency supports have been [...]...
  • Glanbia to Acquire SlimFast For $350 Million Glanbia, the global nutrition group, has agreed to acquire SlimFast and other brands for $350 million from the owners KSF Holdings LLP and HNS Intermediate Corporation. SlimFast is a leading weight management and health & wellness brand family distributed primarily in the food, drug, mass and club (FDMC) channel in the US and UK. It [...]...

Boeing to cut 4,500 jobs by 2017

March 30
10:34 2016

our_company1_gen_infoBoeing the world’s largest plane manufacturer  has announced that it will cut 4,500 jobs by the middle of 2017 to reduce costs.

A spokesperson for Boeing revealed that 1,600 positions will go through voluntary redundancies while the remainder will take place through attrition.

The cuts will also include “hundreds” of executive and managerial positions.

The majority of the layoffs will be in the company’s commercial aircraft division due to customers ordering fewer planes in recent years.

A spokesperson for Boeing said, “While there is no employment reduction target, the more we can control costs as a whole the less impact there will be to employment”.

These job cuts account for almost 3% of Boeing’s overall workforce.

Boeing delivered 762 planes last year but new orders have not been as frequent.

A spokesperson indicated that the company will focus on reducing costs in other areas by improving productivity, reducing inventory and cutting back on business travel.

About Author

admin

admin

Related Articles

New Subscriber





Subscribe Here



Advertisements



















National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4