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Stock impact report

Boeing to Axe 16,000 Jobs as Coronavirus Throttles New Plane Demand [Yahoo! Finance News]

Boeing Company (The) (BA) 
Last boeing company (the) earnings: 4/29 07:30 am Check Earnings Report
Boeing Co BAThe aerospace company said that the staff reductions will include voluntary layoffs VLO), natural turnover and involuntary cuts as necessary.“We’ll have to make even deeper reductions in areas that are most exposed to the condition of our commercial customers - more than 15% across our commercial airplanes and services businesses, as well as our corporate functions,” Boeing President and CEO Dave Calhoun said in a letter to employees. “The aviation industry will take years to return to the levels of traffic we saw just a few months ago.”Calhoun added the demand for commercial airline travel has fallen off a cliff, with U.S. passenger volumes down more than 95% compared to last year. Globally, commercial airline revenue is expected to drop by $314 billion this year, according to Boeing.As a result, airlines are delaying purchases for new jets, putting the brakes on delivery schedules and deferring elective maintenance.“We’re also seeing a dramatic impact on our commercial s Show less Read more
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