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Boeing To Announce Significant U.S. Job Cuts This Week: Reports

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Boeing Co. (BA) is reportedly set to announce significant job cuts this week.

Major news wires like Reuters and Bloomberg, citing union officials, reported that deep cuts will be announced in the coming days, mostly in Washington and California.

In April, Boeing said it is considering a plan to reduce its workforce by about 10%, amid the COVID-19 pandemic. The plan included buyouts, early retirements and involuntary layoffs, mostly in the company's commercial arm.

Meanwhile, about 1,300 union workers have reportedly already applied to take voluntary buyouts.

Boeing CEO Dave Calhoun said in April that the company will be required to make "even deeper reductions in areas that are most exposed to the condition of our commercial customers — more than 15% across our commercial airplanes and services businesses, as well as our corporate functions."

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