More Job Cuts for Boeing

The company's commercial airplanes group will lay off up to 5,000 more workers.
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commercial airplanes group disclosed plans Thursday to reduce its workforce by an additional 4,000 to 5,000 employees by the end of the year, citing the continued weakness in the airline industry.

A statement on the company's Web site indicated that the job cuts will be made through layoffs and attrition.

The reductions are in addition to the 5,000 job cuts for this year that the commercial airplanes division forecast in November 2002. The division estimates that its year-end employment total will be between 55,000 and 56,000 workers.

In the aftermath of the Sept. 11, 2001, terrorist attacks, Boeing had said it would eliminate 35,000 jobs by the end of this year.

"This is an unprecedented and very difficult time for all of us in the commercial aviation business," Alan Mulally, the president and CEO of Boeing's commercial airplanes division, said in a statement. "While we are optimistic about the long-term outlook for the industry, many of our airline customers continue to face significant challenges as they struggle to recover their financial health and regain the ability to order new airplanes and related services."

Boeing said its next round 60-day notices will be issued Friday to 660 employees. The effective layoff date for those workers who receive the notices is Sept. 19.

Shares of Boeing were recently down 24 cents to $33.15 on the

New York Stock Exchange