Just a start.
https://www.seattletimes.com/business/boeing-aerospace/boeing-ceo-air-travel-wont-return-to-2019-level-for-two-to-three-years/
34 replies (most recent on top)
Just follow the curves. Supply and demand. When demand drops significantly , so is the workforce. We’re living in unprecedented time of history.
To all the dumb–ses and fear p–n peddlers out there on this site.
10% across the company
Closer to 15% on the commercial side of the house.
NOW you can all go back to your mom's basement.
As Corporate owned Countries around the world Transfer Billions of Dollars
In Wealth From The Working Class To The Corporations, WHAT WILL YOU DO?
Jesus Christ
If I could afford to join ya I would
Typical of sh–bag the company side with some weak a– manager
F—’em
Take care brother
That’s f—ed up man. I’d say don’t make any rushed decisions but sounds like you’ve made up your mind.
For anyone who’s been then long enough to experience the bs.....
Good luck to you.
This is strictly my personal opinion. F— Boeing. They continue to f— people over. I’ve been with them for 27 yrs. I just signed up for the VLO 2 hrs ago. I’m done.
l’d planned on the end of the year....my last straw was when they’d recently fired a close friend and one of the best goddamn MT’s I’d known. He snapped at a manager who’d basically harassed him for taking 4 days off to care for his son who’s been real sick lately and he threatened to knock the guy out. So “violence in the work place” is the reason. Sure it’s a threat but I’ve seen several people get sent to anger management in the past. But not now. No heart. No care. F— them.
We’ve filed a grievance against this manager but as of now my friend is out of a goddam job. He has 18 1/2 yrs and not one cam.
I’ve seen a lot of b—s— in my time and I know there are a lot of hurting people out there. But he’s a good man, a good father, a good employee. And bc of some a–hole manager, HR that sits on its a– at home “social distancing” and a union that just sits there like door knob; I was gonna wait till the end of the year but...
F— you boeing.
04/28/2020
Massive Markets Swings; Massive Layoffs; The Collapse of Oil and The Dollar
The following are business developments Monday related to the outbreak as
Governments attempt to stabilize their economies, Companies struggle to cope,
Tens of millions of people face job losses and disruptions in supplies of goods and
services
Air Canada is laying off more than 60% of flight attendants
adding 5,000 to Canada’s unemployed. The carrier has suspended 90 of all
international and U.S. Flights.
Canadian airline and travel company Transat AT Inc. has temporarily
Laid-off about 70% of its workforce in Canada, or about 3,600 people.
GE aviation will cut about 30% of its U.S. workforce
Low-cost airline Eastar Jet A South Korean Carrier
Shut down all flights as demand plunges. The company says it will
Temporarily suspend its domestic flights from Tuesday to June 1.
REPURPOSED: General Motors is expatiating the production
Of Ventilators at a Facility in Kokomo, Indiana.
The automaker said Monday that it's working around the clock.
Automotive plants around the globe have closed due to the lack of demand
CORPORATE FIREWALLS
Airbus is canceling a planned dividend payment and lining up 15 billion Euros
($16 billion) in new credit to give the European aircraft giant more cash to
Weather the crisis.
The plane maker had shut several plants last week to adapt them to safer
Health Conditions — should the plants re-open pending orders
Royal Dutch Shell
Will reduce its operating costs by between $3 billion to $4 billion for the
Next 12 months to adapt to the virus outbreak crisis and plunging oil prices.
The company is also reducing capital expenditure to a maximum of $20 billion,
Down from its previous expectation of $25 billion
The Collapse of Oil Prices Also Means The Collapse of the Petro Dollar
https://www.investopedia.com/articles/forex/072915/how-petrodollars-affect-us-dollar.asp
Maybe they will lay off managers too. There are about 7 managers and 35 employees in my dept.
My Guess...
Tomorrow's announcement will outline the bailout package which has been agreed upon.
ILOs will follow the current VLO but because of the bailout rules ILOs will be limited to 10% until September.
Loss is big but stock will bounce tomorrow by 12%.
Biggest cuts on 787 lines (in half) and 737 (down to 18-21 planes per month).
Second VLO in September followed by ILO if market conditions warrant.
Hope you all make it through this OK.
I really don’t believe any of this. You Guys are spreading fears, please stop it. We’re emotionally wreck, we do not need this.
@1pax+14Gdt8uj I heard the same thing from a manger last week. What I am realizing is that everyone thinks they know but it’s all speculation. Unless you are sitting under Big D’s desk, you are going on rumors and making it worse for everyone. We are all in this mess together (unfortunately). Whatever is meant to be will be. I fully expect to get laid off based on seniority. I just hope the housing market doesn’t take a dump when I have to sell my house and move to a different part of the country. Yikes
Who knows future. The fact is lay off is coming and be ready~
My prediction is after this VLO they initiate a 10% across the board and then go deep into BCA with more cuts to get them down to half the size. By the fall it will be 24K less puget sound Boeing employees.
Sounds like a load of baloney! Notices will be coming out next week after they certify VLO's.
@1jcu+14Gdt8uj there will be an ILO in September. 18% across the board, no exceptions.
Warns will go out at the end of June if Boeing does not take Gov't money or the end of October if Boeing does take Gov't money
24 people company wide will take the VLO.
4 have take it to date.
Boeing brought more $$$ in US economy than majority of small businesses lol so we DO deserve the bailout more than anybody else. I don't think there will be ILO, with VLO we shouldn't see any.
And how do you know how many are taking Company wide? You do not. You are going by what some of your colleagues are telling you. Many are taking the VLO. People like to stir the pot on this website. It is a forum to vent, I get it..............but, you need to take what some say with a grain of salt.
Not many are taking the VLO tho.....
Everybody stop panicking ! The layoffs will be minimal. With VLO participants it should not be more than 5%. Stay calm.
The cuts are going to be big
What a joke. This company is a waste of taxpayer dollars. Everybody pays for Boeing problems, but Boeing. How many hard working small businesses owners could be bailed out right now with the amount of cash Boeing has wasted throughout the years through hard earned taxpayer dollars. It's a joke, and so is this company. Get lost.
911 was almost 20 years ago num-nuts. today travel is absolutely massive
When 9-11 happened 27,000 employees were let go. Corona virus is worse. The numbers will exceed that. Don’t be delusional like the BOD. All I have to say is parking will be better for us still here.
kek b—s— we won't cut that much 15% max
Times reporter Dominic Gates who reported the number quoted by SPEEA stated on his Twitter account that he’s taken the article down to fix it since it was just anecdotal information from employees.
Great...well heart attack over till Wednesday I suppose
SPEEA is walking back it’s statement it quoted to the Times about the 15%-35%. So something is right. They should probably not rush reports out until it’s confirmed.
Who’s fooling who it’s going to be deep’ Boeing will do what it does and over react and probably lay min 35 percent, the train is on a down hill run with nobody at the wheel
See the articles attached in this thread. Seattle Times and Seeking Alpha.
I personally still have a hard time believing the higher end. 10% was a minimum but 35% is a bit extreme.
Just my opinion. I know the company...the industry is a wreck and it’ll take quite a bit of time to turn around.
I’m worried about losing my job as a lot are but I wanna seem a little optimistic. It’s not being blind to hope for it.
Good luck to all
https://seekingalpha.com/amp/news/3565035-boeing-to-cut-15minus-35-of-workforce-report
Mum till Wednesday
Fake
35? Says where in the article