Boeing Cutting More Than 12,000 Jobs

Here is yet another sad reason as to why unemployment numbers continue to rise.

According to WILX, Boeing is cutting more than 12,000 jobs through layoffs and buyouts. This is all due to the coronavirus pandemic.

Boeing is one of the nation's biggest manufacturers. Boeing will lay off 6,770 U.S. employees this week, and another 5,520 workers are taking buyout offers to leave voluntarily in the coming weeks.

Boeing's commercial airplanes business is located primarily in the Seattle area. That's where many of the layoffs will take place.

They also said that additional job cuts will be made in international locations.

When you take a look at air travel within the United States, it dropped 96% by mid April, to fewer than 100,000 people on some days.

The Transportation Security Administration said it screened 264,843 people at airports on Tuesday, a drop of 89% compared with the same Tuesday a year ago.

Union representatives said they were still seeking details of the layoffs. About 1,300 members of the Society of Professional Engineering Employees in Aerospace, had been approved for severance packages.

Boeing is a leading U.S. exporter whose importance to the U.S. economy has been highlighted by many.

For many years, Boeing was the largest private employer in Washington state, and it continues to have outsized impact on the state's economy.