Boeing Co. said it plans to cut management jobs as part of a cost-cutting drive, as the aircraft builder deals with rising competition.
The proposed cuts were announced by Boeing Commercial Airplanes CEO Ray Conner during a wide-ranging internal presentation, according to two people who attended the Wednesday morning webcast event.
Conner spoke candidly to employees during the event about his concerns regarding Boeing’s loss of market share to rival Airbus Group SE and emerging players, the people said.
As a path back to regaining lost share to Airbus, Conner said he wanted the company to make a decision about developing an all-new jetliner as early as this year.
Boeing confirmed the webcast and said it would use attrition and voluntary layoffs.
“We will start reducing employment levels beginning with executives and managers first,” said a spokesman. “The overall employment impact will depend on how effectively we bring down costs as a whole.”
Boeing has been weighing developing an all-new jet in recent years that would be larger than its biggest single-aisle jet, but smaller than its 787 Dreamliner.
