Aerospace giant Boeing has announced that it will shed 10,000 employees, or more than six percent of its workforce. Workforce reductions will involve attrition, retirements, reductions in contract labor, and layoffs. This word of job cuts comes amid media reports of significant cancellations of orders for Boeing’s 787 Dreamliner, once touted as the aircraft that would dominate the future of air travel. Dubai-based LCAL cancelled 16 of the 21 orders it had placed while Russian S7 Airlines cancelled its order for 16 of the aircraft. Industry analysts expressed concerns that further delays in the launch of the 787 Dreamliner and the toll that the global recession is taking on air travel could result in the loss of yet more orders.Boeing CEO Jim McNerney’s statement on job losses can be found online.
Major Aerospace and Defense Cuts
