Boeing shares rise 2.6% despite massive layoff announcement

On November 18, Boeing announced that it would lay off nearly 2,500 workers in the states of Washington, Oregon, South Carolina and Missouri.

Boeing announced layoffs as it restarts production of the 737 MAX aircraft. (Source: IC)

In the two states of Washington and South Carolina, where Boeing has commercial aircraft manufacturing facilities, nearly 2,500 workers have received layoff notices.

The US corporation made the announcement as it restarted production of the 737 MAX aircraft, after a week-long strike by 33,000 workers on the West Coast halted production of most commercial aircraft.

The laid-off workers will be paid through January 17, 2025, in compliance with the state’s requirement to provide employees at least 60 days notice before termination. Boeing shares rose 2.6% to close at $143.87 following the announcement.

In October, Boeing’s new CEO, Kelly Ortberg, said the company had no intention of “removing workers from manufacturing and engineering labs.” But hundreds of engineers and production workers received layoff letters last week.

Recently, the Society of Professional Aerospace Engineers (SPEEA) said that 438 members of the Boeing union received layoff letters, including 218 engineers and 220 technicians.

According to the International Association of Machinists and Aerospace Workers (IAM), Boeing has sent layoff letters to 111 of its members, most of whom are involved in producing wing parts for the 777X line.

Source: https://baoquocte.vn/co-phieu-boeing-tang-26-bat-chap-thong-bao-sa-thai-quy-mo-lon-294293.html