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March 2, 2017, 4:16 p.m. EST

More than 1,800 Boeing workers take buyouts

Plane maker cutting costs, may ask for more voluntary buyouts

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By Doug Cameron


Bloomberg News
The nose of a 787 airplane is seen during the manufacturing process at the Boeing Co. facility in Everett, Washington.

Over 1,800 Boeing Co. employees have accepted voluntary buyouts as the aerospace giant seeks to cut costs, two of the company’s main unions said Thursday.

Boeing /zigman2/quotes/208579720/composite BA -6.08%   is trying to boost efficiency and profit margins as it works through a record backlog of jetliner orders amid a race for market share with rival Airbus SE /zigman2/quotes/208224336/delayed FR:AIR -1.34%  . Alongside job cuts, Boeing has pressed suppliers for better terms and increased automation at its factories.

“I would imagine that without these investments in advanced technology we would have no company at all,” Boeing Chief Executive Dennis Muilenburg said Thursday at an event hosted by the U.S. Chamber of Commerce.

Boeing could yet ask the members of additional unions and nonunionized workers to depart voluntarily. Workers at Boeing’s Charleston, S.C., facilities last month voted against joining a union.

An expanded version of this report appears on WSJ.com.

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/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 125.33
-8.11 -6.08%
Volume: 8.91M
Sept. 29, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$79.24 billion
Rev. per Employee
$427,768
loading...
/zigman2/quotes/208224336/delayed
FR : France: Euronext Paris
88.09
-1.20 -1.34%
Volume: 1.37M
Sept. 29, 2022 5:39p
P/E Ratio
17.84
Dividend Yield
1.70%
Market Cap
€70.30 billion
Rev. per Employee
€413,629
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