Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Thousands of UK Boeing jobs at risk as manufacturer plans global cuts

by October 13, 2024
October 13, 2024
Thousands of UK Boeing jobs at risk as manufacturer plans global cuts

More than 4,000 Boeing employees in the UK are facing uncertainty as the American aerospace giant prepares to cut 17,000 jobs globally, roughly 10% of its workforce.

Boeing’s UK operations, including its only European manufacturing facility in Sheffield, may be impacted by the sweeping job cuts, as the company grapples with financial challenges.

Boeing’s UK workforce is spread across 30 locations, with approximately half working on defence contracts, delivering helicopters such as the AH-64E Apache and planes like the C-17 Globemaster. The company’s Sheffield site employs 125 people who produce wing components for Boeing’s 737 aircraft, while Boeing Global Services operates maintenance facilities at Gatwick airport.

Boeing’s chief executive, Kelly Ortberg, announced the job cuts on Friday, citing ongoing financial difficulties exacerbated by production delays and worker strikes. Regulators have also slowed down Boeing’s manufacturing after a door panel incident on a 737 Max jet earlier this year. The crisis deepened after 33,000 workers went on strike in Seattle over pay disputes, causing further production halts.

Ortberg stated, “Restoring our company requires tough decisions, and we will have to make structural changes to ensure we can stay competitive.” Alongside the job cuts, Boeing has delayed the launch of its 777X jet until 2026 and will halt production of its 767 cargo planes by 2027.

While the specific impact on UK jobs remains unclear, sources suggest that job losses may be skewed toward the US. Hypothetically, if Boeing applies the cuts proportionally, approximately 400 UK workers could be affected. However, Boeing has yet to formally inform its UK employees about how they will be impacted.

The financial strain on Boeing has led to mounting pressure from airline customers, including Ryanair, which had to downgrade its passenger forecasts due to delayed aircraft deliveries. Credit ratings agency S&P has placed Boeing on “negative” watch, raising the possibility of its debt being downgraded to junk status.

Read more:
Thousands of UK Boeing jobs at risk as manufacturer plans global cuts

0
FacebookTwitterGoogle +Pinterest
previous post
Lobby group urges Rachel Reeves to rethink non-dom tax hike to prevent exodus of wealthy residents
next post
London City Airport Secures £130m Lifeline Amid Business Travel Decline

You may also like

16-24-year-olds see employment jobs spike as living costs...

February 14, 2023

Heathrow Faces £900 Million Business Rates Bombshell

June 16, 2024

Deepmind scientist raises $50m to use AI in...

February 16, 2025

Britain’s drivers demand ‘three factors’ from new Budget...

October 25, 2023

Google to face multibillion-pound lawsuit from UK consumers

September 7, 2023

Trump’s car tariffs wipe billions off European automakers...

March 27, 2025

Small businesses being offered support to go green

October 10, 2023

BMW braced for €1bn hit as Trump’s tariffs...

March 14, 2025

Government only pursuing two per cent of Covid...

December 12, 2023

WeWork’s offices are back in business

August 5, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Friday Feature: Incubate Debate

      June 6, 2025
    • Risch urges ‘top to bottom’ USAID spending review after waste, fraud exposed

      June 6, 2025
    • Universities in Libertarian Land

      June 6, 2025
    • Elon Musk may speak to Trump aides in push to calm feud

      June 6, 2025
    • Everyone Talks About Leaving a Better Planet for Our Children: Why Don’t We Leave Better Children for Our Planet?

      June 6, 2025
    • MARK HALPERIN: Democrats try to construct a Frankenstein candidate while JD Vance gains momentum for 2028

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,013)
    • Politics (15,545)
    • Stocks (3,130)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved