The Boeing Company (NYSE:BA) has announced that it intends to cut 41 jobs at its factory in Philadelphia. The cuts are expected to come by the middle of this month, according to a report by Kathleen E. Carey of the Delaware County Daily Times, who cited a letter sent to union members from union representatives.
Details On Boeing’s Job Cuts
The news came from the United Aerospace Workers Union Local 1069, and the letter was dated last week. It indicated that the jobs will be cut throughout the weeks leading up to June 21. Union officials said it’s been several years since The Boeing Company (NYSE:BA) laid off workers at the site but that “changes in government, market, business and other factors” have had a significant effect on business at the Boeing plant.
The jobs that will be cut include flight test mechanics, aircraft technicians, sheet metal assemblers and inspectors. Boeing’s total workforce at the plant is over 6,200, so the 41 positions that are being cut represent a small number of its workforce there. The plant where the layoffs will occur manufactures the H-47 Chinook helicopter and the V-22 Osprey, another military aircraft.
Updates On Boeing’s Dreamliner Aircraft
U.S. government spending cuts will undoubtedly be affecting numerous businesses, but The Boeing Company (NYSE:BA) has one bright area. The problems with the batteries for its Dreamliner aircraft appear to have been resolved. Last month United Airlines resumed flights of its Boeing 787 Dreamliner planes. The aircraft were grounded for four months after concerns that their batteries were overheating.
Also don’t forget that The Boeing Company (NYSE:BA) managed to beat estimates for the first quarter of the year in spite of the problems with its 787 Dreamliner aircraft.
Shares of Boeing were largely unaffected by the very small number of layoffs announced in Philadelphia today. As of this writing, they were down .5 percent at the New York Stock Exchange.