💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Boeing reduces size of tech workforce amid competitiveness drive

Published 05/25/2016, 06:55 PM
Updated 05/25/2016, 07:00 PM
© Reuters. File photo of Boeing logo at their headquarters in Chicago
BA
-
AIR
-

NEW YORK (Reuters) - Boeing Co (N:BA) said on Wednesday it was reducing the size of its tech support unit as part of an ongoing drive to lower costs.

The company declined to comment on how many Information Technology workers are being laid off, after the Seattle Times reported on Tuesday that hundreds of IT jobs were being cut.

The reductions are across the company, and reflect tech-support work being reduced, "not work that is being shifted or outsourced," Boeing spokeswoman Lauren McFarland said.

The cost cuts come as the Chicago-based aerospace and defense company battles for sales with European rival Airbus (PA:AIR).

"There is an enterprise-wide effort to increase our competitiveness in today's global aerospace marketplace," she said. "As a result, Boeing is engaging in non-labor and labor reductions to help enable the business to meet and exceed customer requirements."

The job reductions will take place in mid-July, after 60-day notices were sent to workers last week, McFarland said.

The layoffs are involuntary and include managers and non-managers, she said. The reductions are separate from the voluntary job reductions Boeing is making in its commercial airplanes unit, she added.

© Reuters. File photo of Boeing logo at their headquarters in Chicago

Boeing's engineers union said none of the IT layoffs would affect its members. Boeing has eliminated 71 IT jobs held by its members since March 2012, said Bill Dugovich, spokesman for the Society of Professional Engineering Employees in Aerospace.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.