Boeing has announced another round of layoffs, issuing notices to 396 employees in Washington state. Boeing layoffs, reported to the Washington Employment Security Department (ESD), will take effect on February 21, marking the employees’ final pay period with the company.
The affected workers are spread across several Boeing locations, including Bremerton, Auburn, Everett, Joint Base Lewis-McChord, Kent, Puyallup, Renton, Seattle, and Tukwila. This latest round adds to more than 2,000 Washington jobs the company has already cut in 2023.
The Wave of Layoffs Follows Financial Challenges
This announcement continues a series of layoffs that began in mid-November. In October, Boeing revealed plans to reduce its workforce by 10% to address ongoing financial difficulties. The company has not provided details about the specific roles affected, stating only that the cuts include executives, managers, union, and non-union employees.
The Society of Professional Engineering Employees in Aerospace (SPEEA) has confirmed that over 600 of its members have been impacted by the boeing layoffs. However, the company stated that machinists represented by IAM District 751, who work on some of its most profitable jet models, will not face layoffs. This comes despite a prolonged strike by the machinists earlier this year, which disrupted manufacturing and reportedly cost the company $1 billion per month.
Financial Woes Continue to Mount
Boeing has faced significant financial challenges in recent years, starting with two fatal jet crashes in 2018 and 2019 linked to flaws in its autopilot system. The crashes led to widespread scrutiny, grounding of planes, and a tarnished reputation.
Additionally, a door plug blowout earlier this year further strained the company’s finances. These setbacks have contributed to steep losses and placed Boeing’s credit rating at risk of being downgraded to junk status.
Broader Implications
Boeing layoffs reflect the company’s efforts to align with its financial realities. The aerospace manufacturer remains a major employer in Washington, and these layoffs will likely have ripple effects across the local economy.
The company’s financial struggles have underscored the challenges facing the broader aerospace industry. As Boeing continues to navigate its economic pressures, its workforce and operations remain in a state of flux, signaling potential further disruptions in the months ahead.
