Boeing burns through $4.3 billion in cash, seeks to cut 10% of workforce as coronavirus hurts demand

Boeing is facing a dismal market for new planes with coronavirus and shelter-in-place orders keeping travelers off airplanes.Boeing's airline customers have said they expect to shrink because of the pandemic's impact on demand.

The company said it is planning to reduce aircraft production, including of the 787 Dreamliner and to cut payroll by about 10% through voluntary measures and "involuntary layoffs as necessary.""We'll have 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," CEO Dave Calhoun said in a staff memo.

Boeing is facing a dismal market for new planes as air travel demand plunges as the pandemic and measures to stop it from spreading keep travelers home. In the past few weeks, it had largely outlined its challenges, such as an increase in cancellations of new planes.

Source: News Formal (newsformal.com)

Good, now make them keep losing until they have to be nationalized and their profits actually go to their workers and air travel can become affordable while it’s still viable

THATS ALL YOU LOST? STILL OPERATING? STILL ABLE ABOVE GROUND

Who cares what Boeing lost

Dafuck happened in Q2 2019?

Q2 in ‘19 looks worse 😂

Now image their losses if we as tax payers didn’t subsidize them.

Things will be better on the whole; Many businesses haven't begun to recuperate from the economic pandemic.

Boeing a very good Long-Term buy.

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