Travel slump leaves aerospace giant looking to cut more jobs than previously planned

Boeing BA Co. plans more job cuts in response to a pandemic-driven drop in jetliner demand it expects to continue for at least three years.

The aerospace giant told its employees in a memo late Monday that it is adding a second round of buyout offers, a move that would further reduce its workforce by an unspecified number beyond the cut of 19,000 already announced in July.

The company has increased the target set in April of cutting overall staff numbers by around 10%, according to the memo to staff from Chief Executive David Calhoun.

Further details are expected on Aug. 24, with the takeup of the buyout offer by staff reducing the number of compulsory job cuts required.

Excerpt from WSJ
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