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Boeing cutting more than 12,000 U.S. jobs with thousands more planned
- MattGaiser 6y agoAviation is going to be the last thing to recover so this is unsurprising. I could easily see it being years before new aircraft are ordered as there are just so many parked right now.
- rrmm 6y agoAnd Boeing wasn't really on a winning streak going into all this.
- nickff 6y agoIn some ways, this may have taken some pressure off them, and given them some time to catch up, though it seems likely this recession will just hurt Boeing less than Airbus (as the latter was in a better sales position going in).
- misiti3780 6y agohopefully flights will be cheaper too, but i doubt that will happen.
- MattGaiser 6y agoNo they wouldn't as the only people who are flying are going to be those who need to fly, not those who decided to hop down to Mexico for a week as it was cheap.
- Avalaxy 6y agoEven cheaper?! If anything I think prices should be tripled. It's ridiculous how cheap it is to fly nowadays. Often cheaper than way more environmentally friendly ways of travelling.
- KptMarchewa 6y agoFirst of all, they should be seriously taxed. It's ridiculous that air fuel is untaxed.
- SpicyLemonZest 6y agoI unfortunately think that flights are likely to end up at a more expensive equilibrium. There’ll be a lot less pressure to cut costs and a bit more pressure to improve the experience, now that all the lifestyles revolving around regular air travel have been disrupted.
- kube-system 6y agoYou get low ticket prices when the air is full of big efficient planes, consistently full of passengers, being used around the clock, in competition with many other airlines. We should expect an increase in ticket prices over the coming years.
- nostromo 6y agoFlights will get more expensive as there will be less competition after the shakeout. The same thing happened after 9/11: fewer carriers, fewer options, and higher prices.
- mark-r 6y agoFor the short term they are definitely cheaper, the airlines are desperate to get people back in the habit of flying. My son is going to a camp halfway across the country later this summer, and their original plan was to take a train. After checking the plane fares a couple of weeks ago they changed their mind and are going to fly.
- wongarsu 6y agoAn Aircraft's lifetime is mostly determined by how often it starts, because of the stress of going to low-pressure high-altitude and back. All these aircraft not flying will seriously cut the rate of new orders even in the months after airlines recovered.
- markrages 6y agoFrom article: > The company announced in April it would cut 10% of its worldwide workforce of 160,000 by the end of 2020. From boeing.com: > The company employs approximately 145,000 employees across the United States and in more than 65 countries. 90% of 160 is 144. The math checks out.
- hhs 6y agoThat Boeing website you note may be referencing old data. Based on their 2019 annual report, on page 18 under item 6, Boeing cites that they had a year-end workforce of 161,100 employees. The annual report is available here: https://investors.boeing.com/investors/financial-reports/default.aspx https://investors.boeing.com/investors/financial-reports/def... So, the article is roughly correct.
- wongarsu 6y ago> The company announced in April it would cut 10% of its worldwide workforce of 160,000 by the end of 2020 With production halted for indefinite time for the 737 MAX, and no new orders for other planes due to covid that seems reasonable. Still, even if planes don't do well right now and they had a few setbacks in their space business (Starliner delayed, and Boeing's moon lander proposal losing to competitors), they are still one of the largest defense contractors. They will be just fine.
- pyromine 6y agoIt's not so much with regards to whether boeing will be fine, it's more about how the general state of the economy as a whole.
- rhizome 6y agoWars are a cost center. The US is eventually going to have to start redirecting tax revenue back to taxpayers, away from the military.
- sachdevap 6y agoSays who? If history is any proof, I highly doubt this will happen.
- Antecedent 6y agoA draft would do wonders for the unskilled unemployment rate.
- wongarsu 6y agoWar produces jobs (both at the front line and in the entire defense sector), and producing jobs gets you reelected.
- rayiner 6y agoU.S. governments spend almost $7 trillion annually. Federal defense spending is a bit over 10% of that. Does 90% not count as "redirecting tax revenue back to taxpayers?" At what point does it count?
- hellogoodbye 6y agoMeanwhile SpaceX is launching a manned flight today
- wongarsu 6y agoWhich is relevant insofar as Boeing's Starliner was on track to be the first American vehicle to deliver astronauts to the ISS in nearly a decade, but after their pretty bad test flight SpaceX overtook them and are now getting that sweet PR instead.
- khuey 6y agoIt's been a bit of a horse race. SpaceX was kind of in the lead for a while but then their capsule's thruster blew up in a ground test which set them back several months. Then Boeing failed their test flight which let SpaceX get back in the lead.
- bronson 6y agoExcept Boeing's Starliner so far has cost Nasa almost 2X as much as SpaceX, and is aiming for prices at around 2/3 more per astronaut (55mil SpaceX vs 90mil Boeing). If it's a horse rase, the plough horse is neck-and-neck with the thoroughbred.
- imglorp 6y agoEspecially sour because ULA/Boeing is not expected to try again until October (unmanned) for their commercial crew ISS mission, first manned in 2021.
- rubicon33 6y agoReminder for those with Oculus Rift / Oculus Quest: You can view the event in VR using Bigscreen! Today at 1:30 PST Pop on your Quest, search for "Bigscreen" (it's called Bigscreen (Beta)) ... Then show up at 1:30!
- danans 6y agoHow is this relevant at all? Boeing's cuts are being caused by a collapse of its commercial airplane business brought on by the pandemic. SpaceX doesn't compete in commercial aviation at all. If you're referring to SpaceX winning the launch contract over Boeing, that happened a while ago, and has no connection to the pandemic or this layoff. Congratulations to SpaceX for their accomplishment today, but it's neither here nor there for the topic of this article.
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- eric_khun 6y agoBad news for the economy. Market is going to new highs today
- Iwan-Zotow 6y agogreat news for people flying around
- rrmm 6y agoI will continue to refrain from looking at anything the Fed might be doing. I already have enough on my plate to worry about.
- sharkweek 6y agopRiCed iN. I joke, but also, I throw my hands into the air and say, "damn, I honestly have no idea how this all works, best just stick to target date mutual funds."
- bcrosby95 6y agoFree money has to be put somewhere.
- markus_zhang 6y agothe worse the economy is the more Fed will intervene and the higher the market will?be. same thing happened back in previous QEs.
- baq 6y agoless jobs == less cost
- MattGaiser 6y agoBoeing is in the worst-performing segment of the economy for the foreseeable future.
- munificent 6y ago> Market is going to new highs today The top 1% in American own more than 50% of the securities. Using the stock market as any sort of proxy for aggregate quality of life for all Americans is like saying "Everyone must be doing great, caviar sales are through the roof!"
- mcv 6y agoI feel sorry for the people who lose their jobs because of this, but I think less air travel would in many ways be a good thing for the world.
- fermienrico 6y agoAgreed. Furthermore, traveling is overrated - yes I said that. Traveling to other places IMP is not as fun as going to national parks and exploring nature right here at home. Just my personal take on it - I’ve travelled extensively and I don’t enjoy it anymore.
- hyperbovine 6y ago> I’ve travelled extensively and I don’t enjoy it anymore. But that's because there are so many other travelers. Conditional on survival, travel is looking more appealing post-COVID.
- postsantum 6y agoFrom my expericence, there are not that many places that you can't have all to yourself if you really want it
- ch4s3 6y agoSo because you don’t enjoy ANYMORE, other people shouldn’t be able to enjoy in the first place?
- fermienrico 6y agoYeah, I thought we are expressing our opinions on this site?
- ch4s3 6y agoYou are of course free to, but I think your opinion has an air of elitism and condescension, so I'm expression my own opinion to criticize it.
- hhs 6y agoThis is the letter from the Boeing CEO: https://boeing.mediaroom.com/news-releases-statements?item=130684 https://boeing.mediaroom.com/news-releases-statements?item=1...
- DC-3 6y agoThis is just the start of the trouble for Boeing. They are technologically quite substantially in arrears to Airbus, and with none of their products able to pull in particularly hefty profits anymore they don't have the funds to make the necessary investment in R&D to close the gap. The double-punch combo of the 737 MAX scandal and the pandemic will have left them in serious strife.
- JumpCrisscross 6y ago> They are technologically quite substantially in arrears to Airbus I thought Boeing’s composites tech is way ahead of Airbus’s.
- the_mitsuhiko 6y agoIn which way?
- nickff 6y agoMy understanding is that Boeing has used composites for a wider variety of structures, and more complex structures than Airbus, though I am not the OP, or an expert in the field.
- CydeWeys 6y agoUnfortunately they're just chasing marginal efficiency gains with these. It's much more important to make a plane that's safe enough to actually remain in the air.
- Alupis 6y ago> Unfortunately they're just chasing marginal efficiency gains with these Marginal gains is the name of the game for airliners. A 2% increase in fuel efficiency is something airlines drool over. > It's much more important to make a plane that's safe enough to actually remain in the air. Which Boeing unequivocally does. Ya, they stumbled with the 737-MAX, but all the other perfectly good 737 variants are still the workhorse of most airlines. There's still more 737's flying around than Airbus A320 variants (including the A321). That doesn't even account for all the 767, 777 and 787's flying around the world every day... nor all the 747's and DC10/MD-11's shuttling freight too.
- option 6y agothis is a good time for Boeing to invest into R&D so that when aviation does recover (a while from now) Boeing would be ready with a novel high quality offering.
- Antecedent 6y agoHappy I studied engineering in university at times like this.
- lfrmgnd 6y agoIf markets continue to behave as they have, this job cut is a signal that BA is going to soar in the next few days.
- Frost1x 6y agoI suspect you're, unfortunately, going to be correct. https://www.nasdaq.com/market-activity/stocks/ba https://www.nasdaq.com/market-activity/stocks/ba It's interesting how the common narrative uses metrics like low unemployment rates during certain touted "economic highs" and claim correlates, yet the popular narrative casts aside the correlation during times like this and jump into ambiguities and positive outlook for justification during certain "economic downturns." It really, IMHO, helps illustrate just how disconnected many of these metrics are from economic prosperity for the vast majority of Americans.
- hinkley 6y agoBoeing kinda does this though. The fact that Boeing benefits accumulate based on time employed and not duration of employment is a nod to this. They have a reputation for building a 'company within the company' for new plane models, which basically means there's a lot of vertical integration that goes on, and you will know a great deal about one airplane but maybe not much about any of the others. At the height of each cycle they have far more people than they can sustain. They seem like a huge company but they're market cap isn't that high. Yes, they have a bigger market cap than Detroit, but it's also been over 10 years since Apple had enough money its war chest to buy Boeing for cash. So when a plane hits pre-production they start to get an itchy trigger finger. They get rid of the idiots and the non-essential people, and the non-essential people can hop onto the next thing in a couple of years. There's a graph in this article that illustrates: https://www.seattletimes.com/business/boeing-aerospace/in-good-times-and-bad-boeings-force-field-has-shaped-regions-fortunes/ https://www.seattletimes.com/business/boeing-aerospace/in-go... They hired like mad for the 787, then did a round of R & D layoffs a while after the first flight. If I'm not mistaken the rampup of staff after that was to build all of the -8 planes which were basically redesigning their other planes with 787 tech. So it seems the new triple-7 flew in January, so yep, time to trim again. Meanwhile all of those people on the 737-Max are probably furloughed, or retraining on another assembly line, and there would not be an infinite supply of those even without Covid. It might be more noteworthy to look at how many people haven't been laid off in a lockdown situation. A long time ago, the powers that be in Washington state looked at traffic patterns around Puget Sound and realized that Boeing commuters were a large percentage of this traffic. Boeing has offices all over King County, but the project you work on might be at an office across town, and you might pass several offices on your way to work. So they made a tax deal with Boeing to divert traffic rather than building more roads. My understanding is that as part of that Boeing allowed people to work from other branch offices, and while working from home wasn't encouraged, some bosses would let you get away with 1 day a week telecommuting. And I'm not sure when 4x10 and 9x9 schedules (four day workweek, 10 hours a day, or 9 day fortnight, 9 hours a day) came in, but those helped too. Conference call software de rigeur, and whole disk encryption since before it was cool. There are a lot of quite old building blocks in place for at least some departments to keep working without being in the same room.
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- Avicebron 6y agoNow maybe we can acknowledge the US shouldn't have axed development of a robust high speed train system.
- zitterbewegung 6y agoWhich would be unusable due to the same conditions?
- Avicebron 6y agotemporarily, but under the guise of defense/critical infrastructure it's imaginable there would still be jobs available building the system.
- zitterbewegung 6y agoI mean can’t you argue the same about Boeing ? If they stopped existing the airlines would still need support from Boeing for servicing airplanes.
- redisman 6y agoWell we got some ideas for further stimulus for this and next year
- jrockway 6y agoI think the fears that are keeping people off airplanes are also going to keep them off high speed trains. I am dreading New York City reopening because everyone is just going to drive to the city instead of taking public transportation. And it was already overrun with cars.
- toomuchtodo 6y agoRaise tolls, promote remote work unless you absolutely need to be in the city. Use economic incentives to destroy demand for unnecessary vehicular travel.
- __abc 6y agoI'm too lazy to look this up, and probably a bit too cynical, but how much stimulus money did they receive?
- CubsFan1060 6y agoI believe $0: https://www.cnbc.com/2020/04/30/boeing-raises-monster-25-billion-in-bond-offering-rules-out-federal-aid.html https://www.cnbc.com/2020/04/30/boeing-raises-monster-25-bil...
- __abc 6y agoAh, thanks. See, too cynical :)
- deleted 6y ago[deleted]
- hn_throwaway_99 6y agoReally feel for those employees in a time like this. I mean, if you're a web software engineer and you get laid of, there are literally many thousands of companies who would have a need for your skills. If you're an aerospace engineer, how many options are there really besides Boeing and a couple of other big guys? Curious what folks in the aerospace community think.
- jw887c 6y agoEx-aerospace engineer here, now software developer. This is one major reason why a lot of younger folks at Boeing leave (at least the ones with a more broader view of their industry). A lot of "engineers" at Boeing are actually project / program / product managers and can pivot to similar roles at tech firms. The stress engineers have it a lot tougher.
- raverbashing 6y ago> The stress engineers have it a lot tougher. Well, there's always automotive, aerospace, manufacturing, etc. For mechanical engineers, market is not great, but not too bad I guess.
- aerospace_guy 6y agoFortunately, there are a lot of aerospace companies still hiring. Look at the aerospace hubs (Seattle, Houston, Huntsville, etc.), the defense and space side is still booming.
- downerending 6y agoI knew an engine mechanic at TWA when it folded up. He switched to auto transmissions and heavy drinking. :-(
- momokoko 6y agoSoftware engineering has almost zero transferable skills and as developers in high wage countries are about to find out, very easy to move to cheaper markets. I wouldn’t be worried if I was in Poland as a web software engineer. I would be very worried if I was doing that in the United States right now. We’ve seen many times already how fast software jobs dry up in high wage countries when the economy changes.
- coliveira 6y agoBoeing will survive on the backs of the government, but GE is going to have to do a lot more to survive this. Every time people mentioned that GE is going belly up they said: no, GE is still the leader in aviation engines. Also, GE has billions of dollars in loans that need to be repaid, and they were counting on selling some of their business to make the payments. Some people thought that they were in great shape for "recovery".
- aluminussoma 6y agoA lot of Boeing's current dilemma is the failure of executive management. A commonly written story is that the competent executives at Boeing, who were focused on solid engineering, were pushed aside by the political McDonnell Douglas executives. McDonnell Douglas was purchased almost 25 years ago, so perhaps it may be a little unfair to ascribe all of Boeing's current problems to that one event. Still, as an engineer, I can't help but notice executive management operate in similar politically-bent ways at some tech companies I've worked at.
- Analemma_ 6y ago> McDonnell Douglas was purchased almost 25 years ago, so perhaps it may be a little unfair to ascribe all of Boeing's current problems to that one event. Planes have a very long development cycle. If the foundations at Boeing started rotting on the day of the McDonnell-Douglas acquisition, it makes sense that we'd only start seeing it fall apart now.
- subzidion 6y ago"McDonnell Douglas bought Boeing with Boeing's money" as the saying goes...
- tjohns 6y agoI'm curious if this impacted the Foreflight development team, since they were recently acquired by Boeing. I'm really hoping not, since Foreflight is my favorite app for aviation and up until now has been doing a great job of adding new functionality.
- ccostes 6y agoTotally forgot that Boeing owned them. They have been on fire lately with all the new features and I hope this doesn't impact them.
- marcus_holmes 6y agoThis is what happens when you let the accountants run the business. First the research goes. Then the product engineering drops. Then there's mass layoffs. Then the whole thing falls apart. To an accountant, a drop in costs is as valuable to the business as a rise in revenue. To everyone else, this is obviously not true. Risking future profits to cut current costs is a great move according to an accountant. For everyone else, it's corporate suicide. Edit: I realise COVID. But that's the excuse, not the reason.
- toomuchtodo 6y agoI cannot agree more, and yet it’s hard to keep these people out of going concerns.
- Avicebron 6y agoI find it amazing how much good companies will sacrifice for a good quarter or so of "growth". Great R&D can be unprofitable for a long time until it's suddenly Bell Labs. That doesn't happen without some infrastructure, but an accountant rocks up and suddenly the company is a husk, time and time again.
- CreRecombinase 6y agoEven Bell Labs wasn't suddenly Bell Labs though. Even when Bell Labs was "Bell Labs", was it ever profitable for those who were footing the bill (as opposed to society at large, which it obviously was)?
- Ericson2314 6y agoBell labs was good precisely because I doubt it ever made anyone much money. Hmmmm.....
- wwright 6y agoSomeone could make some good money by explaining how this squares with the conventional wisdom that optimizing for profit also optimizes for the good of mankind.
- totaldude87 6y agoMay 7th: Boeing has raised $25 billion in a massive debt sale, allowing it to avoid tapping a $17 billion coronavirus bailout fund meant to shore up businesses critical to national security. https://metroairportnews.com/boeing-passes-on-accepting-federal-aid-via-cares-act/ https://metroairportnews.com/boeing-passes-on-accepting-fede... [edit] "That stance concerned lawmakers from Washington state, who urged Calhoun in a letter to “consider utilizing the economic assistance provided by the Cares Act to safeguard thousands of jobs at Boeing in Washington State and across the country.”" These corporate only care about bottom line
- seanmcdirmid 6y agoBoeing busts aren't a new thing in the Seattle area. My dad was involved in one in 1969 or so...that bust is where "will the last person leaving Seattle please turn out the lights" came from.
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- balls187 6y agoExactly. I've been in the PNW since the mid-80's and Boeing issues are not unusual. They are one of the largest military contractors (who supplies the country that spends the most on military), and it the only National aircraft manufacturer. I feel for the people affected by this, but I don't doubt that Boeing will turn things around. https://www.latimes.com/archives/la-xpm-1998-dec-02-mn-49854-story.html https://www.latimes.com/archives/la-xpm-1998-dec-02-mn-49854...
- bastardoperator 6y agoSeeing Boeing engineering practices first hand gave me anxiety and concern for the safety of air travel and US defense. Boeing is basically 100's of siloed companies living under a broken umbrella. Everyone is reinventing the wheel. Sharing code is not possible. No inner sourcing. Tons of duplication everywhere. It's crazy the amount of waste. I watched nothing happen for 3 years other than catastrophic failure and honestly I'm glad to be gone and not working with them. Military projects have it the worst. Depending on the program and funding, they either have access to modern tooling or such little funding that it prevents them from using something made in the last century. This company probably has one of the most impressive development tool catalogs a company can have, but most developers can't even take advantage of it. They have everything and a lot of the teams I worked with just couldn't use the stuff so the licenses sit on shelves burning cash. They renewed software we migrated away from, just in case... for auditing purposes. WTF? They always had a crazy security protocol for why they cant do something too. I get it, defense is important. They tell me they want an air gapped system for X, cool here is the link to software X and MD5 from our authorized site/customer area. They're not allowed to download it, I still get it. Looks like I'm traveling to Colorado to hand over a USB stick. Without a second thought, I watched the SRE plug it right into his machine. Dude no. WTF? This would have been safer to download. Countless screen shares with people exposing private keys and passwords. The list just goes on and on and on. It's security theatre. This company is also in love with the H1-B program. I don't mind H1-B at all, but when companies exploit humans from other countries so they don't have to pay American wages, that's where I draw the line, it's bad for everyone except Boeing. They are specifically gouging people from India. Couple this with their time tracking policies which I wont cover, their business practices are fairly absurd and rather disgusting. Purchasing, holy balls. Every team purchases software differently. There is no consolidation or money saving practices. This has to do with funding, but someone could do this more intelligently. I tried having the conversation with them. Boeing, we want to give you back 250K in savings a year by not having 45 pieces of paper, it's a burden for us too. They don't care. Nothing matters over there. You follow the policy or look for a new job/vendor. It made me really sad having to work with them. I was so excited too, and it quickly faded with all the stupid stuff they've imposed on themselves which has led to lives being lost and costing people jobs.
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- laiaondono 6y agohpiuhasdfjnad
- euix 6y agoWhat's going to happen to all the highly skilled and specialized labor of building aircrafts? Where would they go? I wonder if we won't see a situation like the early 90's when suddenly all the top scientific and engineering talent of the USSR migrated to the US looking for work. If China was smart they would try to poach as many of these guys as possible. Layoff the propaganda and pay the top guys well. You could be looking at massive knowledge transfer in the years to come. Securing IP and existing tech within borders is much easier then preventing people from moving around.
- tschellenbach 6y agoThis is one of the hardest things as you scale the business. Make sure that the company's hiring effort isn't captured by politics, but stays aligned to the mission and rewards those who are competent. In a startup it's easy. You have direct market feedback. In a big company it's one of the most difficult problems to solve. Feel pretty sure that in those 12k people fired were some of the most competent people at Boeing, while some of those better at politics were retained.
- wiremine 6y ago> Edit: I realise [sic] COVID. But that's the excuse, not the reason. Not sure how it's not the reason? (Or, at least a major reason?) I think there's two things going on: 1. The long-term vision at Boing: the investment in R&D, etc. 2. The short-term cashflow issues. No amount of vision is going to save you from the cashflow crunch that a 96% drop in air travel is going to cause. [1] [1] https://www.cnn.com/2020/04/09/politics/airline-passengers-decline/index.html https://www.cnn.com/2020/04/09/politics/airline-passengers-d... To put this a different way: How could Boing have positioned itself to handle a dramatic drop in orders?
- cs702 6y agoNo matter how you look at it, Boeing's business appears to be in terrible shape. The Atlantic has a decent article on how the company lost its way: "a company once driven by engineers became driven by finance."[a] However, from "the stock market's perspective," everything at Boeing is honky dory -- the stock is up +2% today. -- [a] https://www.theatlantic.com/ideas/archive/2019/11/how-boeing-lost-its-bearings/602188/ https://www.theatlantic.com/ideas/archive/2019/11/how-boeing...
- skny 6y agoStock being up 2% today is myopic and meaningless. Look at the performance over the last year. FWIW, Wall St isn't a bunch of morons trying to financially engineer an airplane to take off. https://imgur.com/a/lv0yYq9 https://imgur.com/a/lv0yYq9
- gamblor956 6y agoNote that this article squarely lays the blame on finance executives...that were once engineers...
- MKais 6y agoThe same day SpaceX launches two astronauts to the ISS. How ironic.
- deleted 6y ago[deleted]
- amarant 6y agoIt's funny these news are published the day spaceX launches their first crewed mission
- m0zg 6y agoYeah, unless that vaccine everyone is working on _really, really_ works I don't see demand for airplanes (or other forms of public transportation, for that matter) coming back to anywhere near the level it was before C19. FWIW, whatever travel I do this year will be by car. And chances of that vaccine working _reliably_ are pretty slim: we do not have vaccines for any other coronaviruses, and they mutate. Our vaccines against the flu (which is not a coronavirus, but which also mutates) leave a lot to be desired.
- deleted 6y ago[deleted]
- smithza 6y agoI know someone in data analytics as Boeing. As of Sunday he had a job. Obviously Boeing is in multiple sectors and don't have all of their eggs in the 737-Max basket, working in other areas of aerospace and rocketry (see ULA).
- IOT_Apprentice 6y agoBoeing spent $43B on buybacks last decade - 74% of free cash flow. Got record $8.7B subsidy from WA state, then cut 17,000 jobs there Fired its CEO over 2 plane crashes/jet grounding & gave him $80.7M on the way out
- jokit 6y agoBoeing contracts should be investigated as money laundering scheme.
- ccktlmazeltov 6y agoand market still going up!
- dsuarez4 6y agoBoeing has been bloated for a while. Seems likes covid was just a good excuse to lay off.
- nelaboras 6y agoCan someone explain to me how this works? Weeks ago they had a backlog of several thousand orders, getting a plane takes years of waiting. Airbus says they still habe a queue of 7000(!) planes to deliver, with only a few cancellations. https://www.airbus.com/aircraft/market/orders-deliveries.html https://www.airbus.com/aircraft/market/orders-deliveries.htm... How is there a need to fire people if there is still so much demand?
- netjiro 6y agoLet it die. Free up lots of skilled engineers to work in smaller more productive enterprises. E.g. the Nokia collapse [1]. The growth a few years after the dinosaur death is significantly better for society than keeping the beast alive on life support. [1] https://venturebeat.com/2019/05/10/surviving-nokia-how-oulu-finland-rebounded-from-the-collapse-of-its-largest-employer/ https://venturebeat.com/2019/05/10/surviving-nokia-how-oulu-...
- mensetmanusman 6y agoI wish I could fast-forward 5 years and see how America has responded to the pandemic. Will America’s economic system have finally met its match with COVID, or will they be churning along with lower unemployment numbers than the EU as they have post-2007/8 pre-COVID?