Boeing employees work on the 737 MAX on the final assembly line at Boeing's Renton plant, June 15, 2022 in Renton, Wash. The SEC announced Thursday, Sept. 22, 2022, that Boeing Co. will pay $200 million to settle allegations that the company and its former CEO misled investors about the safety of its 737 Max after two of the airliners crashed, killing 346 people. (Ellen M. Banner/The Seattle Times via AP, Pool, File)
Boeing is cutting 2,000 jobs in its human resources and finance departments in 2023.
“We expect about 2,000 reductions primarily in Finance and HR through a combination of attrition and layoffs,” Boeing said in a statement to AP. “While no one has been notified of job loss, we will continue to share information transparently to allow people to plan.”
As of the end of last year, Boeing employed 156,000 workers globally.
The cuts make up about 15 percent of the finance department. About a third of those positions will be outsourced to a consulting firm in India, according to a report from The Seattle Times.
The white-collar job cuts coincide with a hiring spree in Boeing's business, engineering, and manufacturing units that's designed to help the company catch up 0n jetliner production hampered during the pandemic.
Boeing last week said it expects to hire 10,000 workers in 2023, while acknowledging that it would "lower staffing within some support functions."
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Inflation is still high, and economic activity is starting to slow down. But before you start to panic about stagflation, wait to see this week’s jobs report.
