Boeing has Laid Off More than 2,000 Employees Amidst Financial Recovery Efforts

Boeing has recently announced that it has laid off 2,199 employees in Washington state, so far, as per a notice submitted to Washington’s Employment Security Department. This decision is part of a larger cost-cutting initiative aimed at stabilizing operations after a turbulent period.

Drastic Workforce Cuts Begin

On November 1, 2024, Boeing initiated workforce reductions, issuing termination notices to over 400 members of the Society of Professional Engineering Employees in Aerospace (SPEEA). SPEEA represents about 17,000 Boeing workers across Washington, Oregon, California, and Utah.

Out of the 438 employees affected, 218 belonged to SPEEA’s professional unit, encompassing engineers and scientists, while 220 were from the technical unit, which includes technicians. Despite the job losses, the laid-off employees will be compensated until mid-January 2025 and receive subsidized healthcare benefits for up to three months.

Layoffs Affect Employees Across the Board

According to Bobbie Egan, a Boeing spokesperson, the layoffs are distributed across the company without specific breakdowns by worker types or geographic locations. “The layoffs are across Boeing,” Egan confirmed in a statement on November 18, 2024.

Previously, on October 14, 2024, Boeing had revealed plans to issue 60-day layoff notices, which would impact approximately 17,000 employees—roughly 10% of its global workforce. Washington state, which employs 66,000 of Boeing’s staff, bore a significant portion of the layoffs.

Impact of the US West Coast Strike

These job cuts follow a massive seven-week strike involving 33,000 workers on the US West Coast. The strike began in mid-September 2024 and concluded on November 5, 2024, when 58% of the International Association of Machinists and Aerospace Workers (IAM) union members approved a new pay agreement. This agreement ensures a 38% salary increase for the affected workers.

The strike’s repercussions were substantial, contributing to a $6.17 billion loss for Boeing during the third quarter of 2024.

As Boeing strives to recover, the layoffs mark a critical move toward addressing its financial challenges. The company has also resumed deliveries of its inventoried 737 MAX aircraft, reflecting efforts to regain operational and financial stability.

The aerospace giant faces significant hurdles as it balances workforce adjustments, production goals, and financial recovery in a competitive industry.

What do you think—can Boeing’s resumed 737 MAX deliveries and cost-cutting efforts offset the financial damage caused by the strike, or will these layoffs further impact its recovery trajectory? Tell us in the comments below

• Featured image by Jeremy Elson

Youssef Yahya

Youssef Yahya is the CEO and Founder of Aviation for Aviators, a platform dedicated to the aviation industry. With over 3 years of experience as an aviation writer, Youssef is passionate about sharing his insights on aviation, entrepreneurship, and the broader business landscape. As a Teaching Assistant in Entrepreneurship at Nile University, he also nurtures the next generation of entrepreneurs. When he’s not exploring the skies or business ventures, you can find him saying, ‘Drag your coffee, and let’s talk aviation, entrepreneurship, and football.’

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