Boeing Lay Off Merry Christmas

Yahoo | 12/15/01 | Staff

[BooBoo1000]

Friday December 14 4:27 PM ET Boeing Exec: Layoffs to Be at Least 25,000 SEATTLE (Reuters) -

Boeing Co. expects to lay off at least 25,000 workers by the middle of next year, the head of the aerospace giant's commercial aircraft business said on Friday, in comments that raised the minimum number of previously announced job cuts by 25 percent.

Chicago-based Boeing said in September it would cut 20,000 to 30,000 workers in its Seattle-area jetliner unit, saying the post-Sept. 11 travel slump has forced airlines to scale back orders for new jets.

Boeing's commercial jet chief, Alan Mulally, defended the cuts on a Seattle talk radio program, telling angry callers the reductions would keep the company nimble as it halves production of airliners.

``Right now, our best projection is that we are going to have to reduce our team by 25,000 to 30,000 by the middle of next year,'' Mulally said when asked how many layoffs would be made. `

`That goes right with our projection of new airplanes, going from 48 airplanes a month to 24 airplanes a month,'' Mulally said.

Boeing's top brass had no plans to take salary cuts, citing the need to make sure the company could keep talented executives in tough times, Mulally said.

Shares in Boeing rose 32 cents to $37.32 in early afternoon trading on the New York Stock Exchange. Though that is nearly 40 percent higher than the year low of $27.61 hit in late September, it is still well below the high of about $70 it traded at almost exactly one year ago. --------------------------------------------------------------------------------

[M. Thatcher]

Boing?

[codeword]

Boeing could not compete successfully with Airbus. All the US government contracts and all the kings men could not save the company.

[magellan]

It's all those cheap imported jetliners from Mexico and China.

[Cicero]

Well, there are several factors. One is that the airplane business is cyclical in any case. Another is September 21 and fear of flying. Another is that Airbus is heavily subsidized by the Eurosocialists. Another is that management isn't what it used to be. Boeing used to be a very well-run company.

[Voltage]

There are a lot of things which together injure business: IRS, EEOC, OSHA, EPA, Trial Lawyers, the list goes on. But those parasites also need jobs, and they vote too!

[codeword]

"The Boeing Company, an aerospace company, operates, together with its subsidiaries, in three principal segments: Commercial Airlines Operations, Military Aircraft and Missiles, and Space and Communications. Commercial Airplanes Operations is involved in the development, production and marketing of commercial jet aircraft. The segment also provides related support services, principally to the commercial airline industry worldwide. The Military Aircraft and Missiles segment is involved in the research, development, production, modification and support of military aircraft, including fighter, transport and attack aircraft; helicopters; and missiles. The Space and Communications segment is involved in the research, development, production, modification and support of space systems, missile defense systems, satellites and satellite-launching vehicles, rocket engines and information and battle management systems" (Yahoo Market Guide: http://biz.yahoo.com/p/b/ba.html).

This, in its own way, is a kind of socialism--government subsidy for Boeing. But it wasn't enough to save the company.

[sinkspur]

But it wasn't enough to save the company.

What gives you the idea that Boeing is dead?

Airbus will NEVER get a U.S. government contract, and defense just got a big increase in spending.

As Cicero said, this is cyclical.

[codeword]

and defense just got a big increase in spending.

Maybe you're right. Maybe socialism will save the company.

[Benrand]

What would Brian Williams say???

"Phil Condit, Chairman and C*E*O of Boeing, a giant amongst giants in an industry that has had it's ups and downs in turbulent economic times, these times that they say we live in are one such time, where the hard cold economic realities that embrace the youths of our times and the youths of various Muslim sects...in this that which they call the holy season of Ramadan, how can the Chair of the most powerful company in that which they say is the history of jet fueled aviation, that which is when Bernoulli's effect takes hold of a wide swath of metal and hoists it into the sky like so much gossamer, how...I'm sorry Phil Condit, Chariman and CEO of Boeing...we no go to breaking News with Jim Miklaseshesheski at the Pentagon, what's going on Mik?"

[Joe Hadenuf]

This is really not good. I heard a report on AM radio yesterday, that reported there are now over 7 million Americans out of work and climbing.

[M. Thatcher]

ROFLMAO!!!!! You have that guy NAILED!!! Every time I watch him, no exaggeration, I think of your parody, the one that mentions Doris Kearns Goodwin...

[HiTech RedNeck]

Boeing's top brass had no plans to take salary cuts, citing the need to make sure the company could keep talented executives in tough times, Mulally said.

[unprintable] prima donnas! Like most executives would starve on 50% of their multi-million paycheck.

[codeword]

Like most executives would starve on 50% of their multi-million paycheck.

Well, you can't expect them to live in a tent! :)

[RightOnline]

"Airbus will NEVER get a U.S. government contract, and defense just got a big increase in spending."

"As Cicero said, this is cyclical."

I'll echo that.

In addition, take it from one who knows (along with a fair number of other FReepers here who have had the privilege of piloting Boeing aircraft): No one..........NO one............builds a "heavy" like Boeing. Period. End of story.

The folks on this thread decrying the "death of Boeing" haven't the slightest clue what they're talking about.

[Benrand]

I think Saturday Night Live should hire me to write the weekend update skits.

Haven't seen Old Doris lately shilling for LBJ, maybe she'll turn up in a Ron Popeil infomercial, or a Ron Jeremy movie.

[codeword]

End of story.

Maybe.

But when Boeing moved out of Seattle, they also began shifting the focus of their business away from aircraft and toward aircraft accessories, e.g., internet devices for airplanes. They seem to be abandoning the commercial aircraft field to Airbus et al.

[cdw19390]

BOEING is competing with a consortium of countries, NOT companies. It was instrumental in keeping this country free in WWII, and very important now. B52s are still flying as are the Ch46, MARINE chopper and the valiant CH47 Chinook. The V22 appears to be a loser. The employees of Boeing should spend less time worrying about the salaries of executives and more time doing their damn jobs. When they are flipping burgers they will Miss Boeing BIG time. Especially the health care share value payments etc. Merging with McDoald Douglas a loser was the kiss of death. Their Management could not run a hot dog stand.

[SmartBlonde]

To paraphrase a former ad, my frequent flyer friends 'fly Boeing or they fly nothing at all'. There are a lot of people who feel the same way I do.

What is there about the two big Seattle companies (Microsoft and Boeing) that inspires such hate and distrust? My answer is always the same: envy. There's also some spill over hatred of big business, the New World Order stuff, etc., but those two companies in particular inspire vitriolic responses from a lot of people - Freepers included.