Boeing Slashes 12,000 Jobs As COVID-19 Seizes Travel Industry
A Boeing spokesperson said the actions represent the largest number of job cuts, but several thousand additional jobs will be eliminated in the next few months.
A Boeing spokesperson said the actions represent the largest number of job cuts, but several thousand additional jobs will be eliminated in the next few months.
The COVID-19 outbreak has caused global air traffic to plummet and compounded a crisis at Boeing Co. that began with two fatal crashes and the grounding of its best-selling plane, the 737 Max.
"The demand for commercial airline travel has fallen off a cliff," said Boeing CEO Dave Calhoun. "The pandemic is also delivering a body blow to our business."
Boeing's CEO said Monday that it will take years for the aircraft-building business to return to levels seen before the coronavirus pandemic, which has slowed air travel to a trickle and led airlines to park 2,800 jets.
Thousands of Boeing workers are back on the job in Washington state with new procedures to keep them safe from COVID-19.
The company said 27,000 workers are due to return in a phased-in process, with some starting as early as Monday. Most should be back at work by Friday, April 24. Boeing said it will take steps needed to protect their safety.
In a memo to employees, Boeing CEO Dave Calhoun said the company is offering voluntary layoff packages that will provide exiting employees with pay and benefits.
The aerospace giant is among the companies that would qualify for the government-backed loans reserved "for businesses critical to maintaining national security," and the only one that has made it clear that it needs the assistance.
Operations would be reduced beginning Wednesday, the company said in a statement, and production would be suspended for a two weeks.
Earlier this week, Chicago-based Boeing said it was seeking $60 billion in "public and private liquidity" for the aerospace industry, which is struggling amid a COVID-19 outbreak that has halted major travel and shuttered many businesses.
The 737 Max crisis has been the worst event in Boeing's history. At least until now.
The committee said multiple factors led to the crashes, but it honed in on a new flight-control system that pushed the nose of each plane down based on faulty sensor readings.
It's the latest problem Boeing faces as it tries to get the 737 Max back in the air.
Production of the 737 Max was suspended after two crashes that killed 346 people.
Boeing reported a net loss of $636 million last year, compared to a $10.5 billion profit it made in 2018.
Southwest Airlines said it will seek additional compensation from Boeing as the problem is expected to stretch deep into 2020.
CEO Dave Calhoun said it is important that Boeing gets the assembly line in Renton, Washington, going again sooner rather than later.
"We are currently estimating that the ungrounding of the 737 MAX will begin during mid-2020," Boeing said in a statement Tuesday afternoon.
The assembly line in Renton, Washington, has stopped building Boeing's bestselling plane, the company confirmed late Monday.
The process to getting final approval for the 737 Max to return to service has become an excruciatingly slow one, with every minor glitch getting far more attention than it would during a normal certification process.
The 737 Max was Boeing's best-selling plane until two of them crashed five months apart, killing 346 people and prompting regulators around the world the ground the plane last March.
Dave Calhoun, who began his post as CEO of Boeing Monday, sent an email to all of Boeing's employees, vowing to listen to them, customers and regulators.
The wiring issue came to light after the Federal Aviation Administration asked Boeing to audit key systems on the Max after two crashes in which new software and faulty sensors were implicated.
As part of a December audit of the plane's safety ordered by the FAA, Boeing found "previously unreported concerns" with wiring in the 737 Max.
The exact amount of money that he will leave with isn't yet clear. That will depend on his negotiations with Boeing, including how the company labels his departure — for example, was it a retirement? A resignation? A layoff?
A Chicago man who made history as the first-ever two-time mixed martial arts world champion is now expanding his reach and serving as a mentor to others.
The jeweler estimated that $300,000 in merchandise was lost.
Paperbacks and textbooks were piled up outside Carl Schurz High School, at 3601 N. Milwaukee Ave. in the Irving Park neighborhood.
The Kendall County Sheriff's office did not specify the condition of the suspect, but said no officers were injured, and there was no ongoing threat to the community.
Sosa will be part of the nonprofit charity organization Club 400 Cubs' 10th-anniversary bash Saturday night in northwest suburban Lake in the Hills.
The Wisconsin Supreme Court ruled Friday that Robert F. Kennedy Jr.'s name will remain on the state's presidential ballot, upholding a lower court's ruling that candidates can only be removed from the ballot if they die.
The U.S. Senate passed a resolution Friday honoring the life of a 6-year-old Palestinian-American Wadee AlFayoumi of Illinois. AlFayoumi died after he was stabbed 26 times in front of his mother in October 2023.
Here are the rules of the CBS News vice presidential debate between JD Vance and Tim Walz.
During the Tuesday night meeting, the clerk grabbed the mayor's gavel after she made several requests for the mayor to stop pointing it at her.
Chicago Police Supt. Larry Snelling talked with CBS News Chicago about victories and challenges after a year in the job.
Michael Cozzi bought a prepaid debit card for his friend and put $300 on it—only to be told by every party involved with the card that it was in somebody else's name and he couldn't unlock the money.
The New York Times has unveiled the 2024 edition of their list of the top 50 restaurants in the U.S., and a Chicago steakhouse is among the spots that made the national cut.
Earlier this year, CBS News Chicago reported on Monica Davis, a suburban woman who has since been arrested on accusations of pretending to be a dentist.
The Internet lit up this week with news that a Chicago restaurant is offering a luxe cocktail for $13,000, purportedly the most expensive martini in the United States.
Scammers have taken more than $100 million meant for senior citizens' Medicare bills, which comes from taxpayer money. The fraud scheme was exposed after swindlers made $3 billion worth of fake Medicare claims.
The government has already disbursed more than 900 million free at-home COVID-19 tests, and will be reopening its free test kit portal.
According to the Cook County Department of Animal and Rabies Control, the bats were both found Monday.
The Food and Drug Administration ended a program that provided free COVID-19 vaccines in August of 2024.
Earlier this year, CBS News Chicago reported on Monica Davis, a suburban woman who has since been arrested on accusations of pretending to be a dentist.
The Gift of Hope Organ Donor Care Center is focused on deceased patients whose lungs, hearts and more will live on in others.
Greyhound said its lease is up on Oct. 20, but Greyhound is "working with local officials and stakeholders to determine the path forward."
Experts say the warmer early fall temperatures mean some of the summer fruits and veggies we love. But it also means some fall produce could be delayed.
The sale has those in the real estate industry excited.
The factory's parent company said it gave workers the opportunity to move to other facilities.
One season ticket owner shared his take. His seats for Sunday, with a face value of $250, sold for about $599 each.
British actress Dame Maggie Smith had an extensive career in theater and movies, gaining international acclaim in later roles in "Harry Potter" and "Downton Abbey."
The adventure begins for 16 ordinary Americans as they embark on their trek to the top of the treacherous New Zealand Alps in 'The Summit.'
Since their debut nearly 35 years ago, Pearl Jam has been one of the world's most popular and influential rock groups. Lead singer Eddie Vedder and bassist Jeff Ament talk about success, friendship, creativity, and giving back to their loyal fans.
United said demand for its flights surges wherever Taylor Swift jets off to for her next concert.
Sean "Diddy" Combs is facing three charges, including sex trafficking, stemming from an investigation by federal authorities.
Chief Meteorologist Albert Ramon has your 10 p.m. First Alert Weather forecast for Friday, Sept. 27, 2024.
Torres made history as the first-ever two-time mixed martial arts world champion, and is now expanding his reach and serving as a mentor to others. Marie Saavedra reports.
Solorio took on Washington High School in both girls’ flag football and boys’ varsity football. The Bears mascot Staley and former Bears player Roberto Garza were also on hand.
The thieves smashed their way through the showcases at Darbar Jewelers on Devon Avenue. Charlie De Mar reports.
CBS News Chicago reached out to the Chicago Public Schools, which said the disposal of the books is part of “the regular weeding process.”
The stabbing earlier this month took the life 2-year-old Christopher—the family's so-called "miracle baby."
The jeweler estimated that $300,000 in merchandise was lost.
Rhyker Earl, 26, suffered a seizure on the night of Sunday, Sept. 8, at a home in DeMotte, Indiana.
A Chicago man who made history as the first-ever two-time mixed martial arts world champion is now expanding his reach and serving as a mentor to others.
The record comes in a season in which the White Sox had multiple double-digit losing streaks and fired manager Pedro Grifol.
The complaint alleges "a pattern of discrimination that has caused an increasingly hostile environment at UChicago for Palestinian, Arab, and Muslim students and students associated with them."
Chicago Police Supt. Larry Snelling talked with CBS News Chicago about victories and challenges after a year in the job.
Car break-ins were the source of a whopping 40% of gun thefts last year.
The sum was less than attorneys were seeking.
Some of these veterans live in the Chicago area, and many are scattered around the country suffering from debilitating illnesses.
A Chicago man who made history as the first-ever two-time mixed martial arts world champion is now expanding his reach and serving as a mentor to others.
Sosa will be part of the nonprofit charity organization Club 400 Cubs' 10th-anniversary bash Saturday night in northwest suburban Lake in the Hills.
The record comes in a season in which the White Sox had multiple double-digit losing streaks and fired manager Pedro Grifol.
The Detroit Tigers earned an AL wild card berth on Friday night, ending a decade-long postseason drought.
It was the fastest nine-inning game for the Cubs since they finished a 3-0 victory over the Reds in 1 hour, 48 minutes on May 24, 2001, at Wrigley.
The jeweler estimated that $300,000 in merchandise was lost.
The Kendall County Sheriff's office did not specify the condition of the suspect, but said no officers were injured, and there was no ongoing threat to the community.
Both were in good condition.
The new association will streamline coordination between everyone involved—acting as a connector for businesses big and small, loss prevention specialists, and law enforcement.
Rhyker Earl, 26, suffered a seizure on the night of Sunday, Sept. 8, at a home in DeMotte, Indiana. On Friday, body camera footage was released that shows officers handcuffing and restraining him.