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Boeing slashes 12,000 jobs as virus seizes travel industry

Boeing slashes 12,000 jobs as virus seizes travel industry
Posted at 11:49 AM, May 27, 2020
and last updated 2020-05-27 14:57:06-04

Boeing is cutting more than 12,000 jobs through layoffs and buyouts, with several thousand more jobs expected to be cut over the next few months as the aircraft deals with a downturn in travel caused by the coronavirus pandemic.

The company said Wednesday it will lay off 6,770 U.S. workers this week, and another 5,520 employees are taking buyouts.

Boeing had already said it would cut 10% of a workforce that numbered about 160,000.

The layoffs are expected to be concentrated in the Seattle area, home to Boeing's big commercial-airplanes business.

The Chicago-based company says its defense business is stable and will help blunt the impact of falling demand for passenger jets.