Merry Christmas: Boeing to Cut Staff in 2017

By Douglas A. McIntyre Updated Jan 12, 4:37PM EST · Published Dec 19, 8:40PM EST

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Merry Christmas: Boeing to Cut Staff in 2017 — © Google Images

Layoffs announced, or signaled, just before the holidays are particularly cruel. Boeing Co. (NYSE: BA) somehow let slip that it would almost certainly reduce staff at its commercial airline division next year. As is often the case, people will leave “voluntarily”, or, if not enough volunteer, the cuts will be non-voluntary.

The jet airplane business continues to be tough. Boeing has to fight Airbus and several makers of smaller commercial jets. The Commercial Aircraft Corp. of China, which is owned by the government of the People’s Republic, has started to develop its own planes for the world’s largest commercial plane market. If Boeing and Airbus lose sales in the Chinese market, the profitability of the industry will suffer.

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According to the Wall Street Journal:

The company expects to have cut employment at the Boeing Commercial Airplanes by 8% this year compared with 2015, but flagged what it termed as “hesitation” in buyers of its big twin-aisle jets.

Happy holidays, and a great New Year.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.