Aerospace and defense giant Boeing Co. (BA: Quote) will lay off some 800 commercial-jet workers by the end of this year, according to media reports on Friday. The reductions, mostly from the 747 and 787 jet programs, are said to be part of a long-term plan and do not signal any shifts in production rates for either airplane.
According to reports, the layoffs will chiefly impact machinists who refurbish and do modifications on jets that have rolled off the assembly line in need of rework. All 800 people being laid off are said to be mostly represented by the International Association of Machinists.
Media reports indicate that Boeing plans to reduce employment between 2,000 and 2,300 this year in the Seattle area, which will be done through attrition and transfers. A spokesman for Boeing reportedly said the cuts are not related to the current grounding of the 787 Dreamliner due to problems with its battery system.
BA closed Friday’s trading at $84.82, up $0.49 or 0.58 percent on a volume of 2.85 million shares.
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by RTT Staff Writer
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