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Boeing cuts 7,000 - job loss through Covid, 737 Max now hit 30,000

US PLANE maker Boeing will lay off 7,000 more employees by the end of the year because of the Covid crisis and the prolonged grounding of the 737 Max jetliner, Bloomberg reports

01 November 2020 - 19:00

US PLANE maker Boeing will lay off 7,000 more employees by the end of the year because of the Covid crisis and the prolonged grounding of the 737 Max jetliner, Bloomberg reports.

This bring the total job cuts made through retirements, attrition and layoffs to 30,000, cutting 19 per cent of its pre-pandemic workforce, Boeing said in an email after reporting earnings.



'We're aligning to this new reality by closely managing our liquidity and transforming our enterprise to be sharper, more resilient and more sustainable long term,' said CEO Dave Calhoun.



Once a prodigious cash generator, Boeing is now carefully monitoring its liquidity and soaring debt while navigating the deep slump in air travel and working with regulators to lift the Max flying ban.



Boeing has spent US$22 billion in free cash since March 2019, when regulators grounded the company's best-selling jet after two fatal accidents.


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