Boeing announces layoffs

[Restrain]

Boeing has announced immediate layoffs of 12,000 employees with thousands more layoffs still to come.

This is reflective of both the issues that Boeing has recently had as well as the cancellation of plane orders.

 

[Michigan CG]

Boeing has announced immediate layoffs of 12,000 employees with thousands more layoffs still to come.

This is reflective of both the issues that Boeing has recently had as well as the cancellation of plane orders.

I bought $10,000 in Boeing stock six weeks ago; it is up 1.7% today. My United Airlines stock is almost in the black today.

 

[Mark K]

They still have a backlog of over 4,000 planes on order. I think they'll be OK.

 

[ucbruin]

They'll be okay because they are too big to fail....

 

[Terrel L. Shields]

I am afraid the "too big to fail" moniker is alive and well alright. But the problem with consolidation is that the system is less robust...i.e.- lack redundancy. If you shut down Boeing how would you ever start a company from scratch? That's why hamburger and beef counters are not always well stocked. Yesterday was my day to go to grocery and ice cream? I wasn't shopping for ice cream since I rarely eat it. There may have been 50% of the space empty, but it got me curious so when I went to dollar general and they only had the large containers, but they had toilet paper! The closure of a single processing plant, especially for beef, means a glitch in the whole national supply. The displacement of the milk processors which divides between grocers and restaurant sales, led to a lot of dislocation. Multiple smaller plants are far more reliable than a few very large plants. Proven fact. Same with airplanes, cars, banks, phone services, whatever.

 

[glenn walker]

Boeing will survive because its a military contractor -- BUT - it will be a much smaller company and contracts on commercial orders can be cancelled and they will be. Ordering a new plane right now is like Hertz car rentsl buying a new fleet- not gong to happen and as larger commercial carriers start to file bankruptcy there 4,000 backlog could end up at 1,000.