Boeing to cut 20% total workforce

Boeing has said that it plans to cut thousands of additional jobs in upcoming months.

Chief executive of the US airline, Dave Calhoun, said that he hopes staff numbers will be reduced from 160,000 to 130,000 by the end of 2021.

In a memo to staff he said: “As we align to market realities, our business units and functions are carefully making staffing decisions to prioritize natural attrition and stability in order to limit the impact on our people and our company.”

“We anticipate a workforce of about 130,000 employees by the end of 2021. Throughout this process, we will communicate with you every step of the way.”

Boeing has reported four straight quarterly declines with a $466m (£354m) loss for the three months to 30 September.