Boeing prepares deeper cuts from executive ranks to real estate
Boeing Co. is thinning its corps of vice presidents and winnowing real estate holdings, including a splashy outpost near the Massachusetts Institute of Technology, as the planemaker works furiously to counter plunging aircraft sales and mounting costs for the grounded 737 Max, APA reports citing Bloomberg.
About 170 midlevel executives, 70 of them based at Boeing’s commercial airplane division, are taking a buyout offer that includes a year’s salary, according to people familiar with the matter. The first of the vice presidents and senior managers to accept the terms will leave the company Oct. 2, followed by a second wave later in the year.
The cuts go deeper and wider than the 19,000 jobs pared earlier this year when the coronavirus pandemic sent air travel into an unprecedented collapse. Stemming the cash outflow has become a paramount concern for Boeing, and the company is also wringing savings from investments in futuristic technology as well as its businesses and organizational structure.
Boeing is shedding assets “like King Midas in reverse,” said Richard Aboulafia, an aerospace analyst with Teal Group.
The biggest and most controversial of the cost-saving measures mulled by Boeing would be to build the 787 Dreamliner at a single site, most likely its South Carolina factory, and close a second final-assembly line in Everett, Washington.
4 died, 120 injured as earthquake jolts Izmir
Supreme Commander-in-Chief: "Azerbaijani soldiers and officers are liberating the lands, raising the flag"
President Ilham Aliyev makes phone call to Erdogan: “Azerbaijan is ready to provide any kind of assistance to brotherly country”
Azerbaijan’s MES conducts awareness raising works among population regarding rules of safe behavior during war period
President: "There are no moral norms, no honor, dignity, and no understanding of how wars are fought for them"
Ilham Aliyev: "Azerbaijani Army has demonstrated its advantage on the battlefield"
Putin discussed situation in Nagorno Garabagh at meeting of Security Council
Azerbaijani President: "Azerbaijanis must return to all the occupied territories where they used to live"
Azerbaijani President: "Armenian state was created artificially on the lands that it never owned"
Jeyhun Bayramov: “News of earthquake occurred in Izmir saddened us very much”
One of the Armenian militants captured during military operations turned out to be a clergy - VIDEO
President Ilham Aliyev: "All three violations of ceasefire were committed by the Armenian side"
Azerbaijani state flag hoisted at four more outposts liberated from Armenian occupation
Azerbaijan offered help to Turkey regarding earthquake occurred in Izmir
President Ilham Aliyev was interviewed by Russia's Interfax news agency - UPDATED
MoD: Two more "Smerch" belonging to the enemy, which fired at the cities of Barda and Tartar, were destroyed today - VIDEO
Meeting of Azerbaijan and Armenia Foreign Ministers kicks off in Geneva
Azerbaijan to take legal steps regarding illegal activity in Vejnali gold field, liberated from occupation
Azerbaijani MoD releases video reportage from the liberated Khudaferin village of Jabrayil region
Explosion takes place in Spitak medical center in Armenia
Armenia refused to deliver body of Armenian aged 84 to his family
General prosecutor: “Some Armenians make calls on social networks aimed at creating confrontation among ethnic minorities in Azerbaijan”
Magnitude 6.6 quake shakes Turkey’s west coast, Greek islands in Aegean
Azerbaijani MFA: We call on the international community to condemn Armenia's act of vandalism
Russian deputy FM discusses Nagorno-Karabakh conflict with Italian ambassador
Kamran Aliyev: Armenians shot some captured Azerbaijani servicemen at close range
Azerbaijan expects activity of Human Rights Watch and Amnesty International to have effective result
General prosecutor: “To information Jalal Arutunyan was destroyed, but Armenian side hasn’t yet confirmed his death”
Important messages from Putin: Russia also accepts reality emerged in Nagorno Garabagh issue - ANALYSIS
Azerbaijan appealed to European Court regarding criminal acts of Armenia
Number of confirmed coronavirus cases reaches 54174 in Azerbaijan, 718 deaths
Azerbaijani Army has liberated 9 villages of Jabrail, Zangilan and Gubadly
Azerbaijan documents 1,022 fresh coronavirus cases, 480 recoveries, 10 deaths in the last 24 hours
Next meeting on resolution of Nagorno Karabakh conflict starts in Geneva
Azerbaijan initiated criminal case against Araik Harutyunyan, David Babayan, Jalal Harutyunyan and Arman Babajanyan
Investigation of 52 criminal cases launched regarding terrorist acts committed by Armenia continue
Hikmat Hajiyev: “If Khojaly genocide committed by Armenians had been given a fair assessment, no genocide in Rwanda would have been”
Azerbaijan puts several foreigners involved in battle by Armenia on internationally wanted
Hikmat Hajiyev: “Armenia commited numerous military crimes and crimes against humanity”
1 toddler, 10 children, 27 women among victims of Armenian terror
7 Azerbaijani families totally become victims of Armenian terror September 27
91 civilians killed, 400 injured as a result of Armenian provocations so far
MoD: Enemy's rocket-artillery depot has been destroyed - VIDEO
Sahiba Gafarova addressed letter to chairman of Pakistan’s Parliament regarding adoption of resolution condemning Armenian aggression
Azerbaijani MoD: UAV of the Azerbaijan Army was not shot down
Russia reports new single-day record of over 18,000 COVID-19 cases
MENR: Armenia commits ecological terrorism against Azerbaijan nature
Elman Rustamov: “Our strategic currency reserves are more than $ 50 bln.”
Inflation to be in the range of 2.8-3% this year, while between 3.6-4% in 2021 in Azerbaijan
Let’s get acquainted with our military servicemen showing bravery in battles - VIDEO
Armenians target Azerbaijan's residential settlements, civilian population, and civilian facilities - PHOTOSESSION
Azerbaijani MP suggests to establish shelters for beggars
Azerbaijan commemorates Khojaly genocide - PHOTOSESSION
14 years pass since establishment of the Ministry of Emergency Situations: They always come to your aid in any difficult moments - PHOTOSESSION - VIDEO
First Vice-President Mehriban Aliyeva attended opening ceremony of rebuilt Azerbaijan pavilion at Exhibition of Achievements of National Economy in Moscow - UPDATED
As a result of the efforts of NaM members, the UN SC did not adopt a statement against Azerbaijan
It has been confirmed the fact that Kurdish-descent mercenaries fight on the Armenian side - VIDEO
Armenian army personnel refused to get engaged in battles
Azerbaijan’s MIA appeals to citizens