Stay Informed. Stay Competitive with FREE Insights on the Stock Market, Dow 30 & Emerging Opportunities. Get Free Email Updates

Stay Competitive With Stock Market Updates!

Get Free Updates

Boeing Points To Deeper Workforce & Airplane Production Cuts

By John F. Heerdink, Jr.

Boeing reported a $641M loss in the Q1 and forced to cut its workforce and aircraft production. The aerospace giant announced quarter earnings recently reporting an adjusted per-share loss of $1.70 and revenue of $16.91 billion. The company has already been facing major losses and challenges due to the grounding of its best-selling aircraft the 737 Max for the last 13 months. The company burned through $4.7B in cash during the quarter as it dealt with rising cancellations and a lack of orders.

 “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. Higher percentages [of cuts] will be from the white-collar world.” – CEO Dave Calhoun in a staff memo

The company plans to reduce aircraft production, including lowering the output of 787 Dreamliners to 10 a month from 14 this year and to seven a month by 2022.

Dow 30 component Boeing (NYSE: BA) is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. To learn more about Boeing (BA) and to track its ongoing progress please visit the Vista Partners Boeing (BA) Coverage Page.





Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

Stay Informed! Stay Competitive! Please join us at Vista Partners and receive our FREE email updates throughout the week and view our exclusive content and research.

Post View Count : 492
(Read Original Story: Boeing plans to cut airplane production, 10% of its workforce in aircraft market ‘frozen’ by coronavirus crisis in CNBC)


YOUR GUIDE TO STAYING INFORMED IN THE MARKETS

Subscribe for FREE Email Updates & Access To EXCLUSIVE Research!

Connect with us