July 29, 2020

Boeing reports big loss, signals more job cuts

New York (AFP) – Boeing suffered a bigger-than-expected loss in the latest quarter, the company announced Wednesday, and signaled additional job cuts are likely as it contends with a protracted air travel downturn amid the coronavirus pandemic.The aerospace giant, which previously suspended the dividend for shareholders and announced a 10 percent staff downsizing, also said it would phase out production of the iconic 747 jumbo jet and ratchet back production plans on other commercial aircraft due to the weak outlook.Those moves are expected to lead to further job cuts.”Regretfully, the prolong…

source https://this.kiji.is/en/661217557851898977?c=648607265489716321

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