Boeing to cut staff, boost liquidity with recovery not coming anytime soon

Topics Boeing | Coronavirus | Lockdown


Boeing Co said on Wednesday it would cut its workforce by about 10 per cent, further reduce 787 Dreamliner production and try to boost liquidity as it prepares for a years-long industry recovery from the coronavirus pandemic that drove the planemaker to a net loss for the second straight quarter. Chicago-based Boeing burned through $4.

7 billion in cash in the first quarter but said it was confident of getting sufficient liquidity to fund its operations, sending its shares up 5 per cent to $137.57. Reuters reported on Tuesday that.....

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