Boeing warns of possible layoffs in 2009

[LUC]

http://seattletimes.nwsource.com/html/n ... eing21.htm

[perfectfire]

Your link is missing an 'l': http://seattletimes.nwsource.com/html/n ... ing21.html

[perfectfire]

[LUC]

Thanks for correcting my link.

[The Tim]

[eskercurve]

It's pretty obvious that some Boeing jobs in the area will vanish, either through reassignment to the defense segment, or outright layoffs.

Locally, SPEEA and Boeing worked out a three tier system for layoffs. The entire represented workforce is measured as the bottom 40%, middle 40%, and the upper 20%. They focus on the lower 40% first.

Boeing has hired like crazy over the past two years since I've moved here from St. Louis. Defense will probably absorb some of the losses but it also means fewer jobs localls since defense isn't a big employer here.

The good news is St. Louis real estate is cheap. $200k for a cavernous two story home and a two car garage. The bad news is ... it's St. Louis, and either relocating jobs or layoffs are bad for our local economy.

[WestSideBilly]

I think it's 40/40/20 upper/middle/bottom, not 20/40/40.

I'm pretty sure there won't be a lot of hiring be either Boeing or Microsoft this year, so both should see 2-5% decreases in staff just through retirements and departures. Attrition reduction, basically.

[rose-colored-coolaid]

The Seattle Times is reporting 4,000 - 4,500 people will be laid off in Boeing Commercial. Boeing employs about 76,000 people in the Puget Sound area, so this is between 5% and 6% of their local work force. It's also about as many jobs as the failure of WaMu has already shed.

FWIW, I doubt this will be the final round of layoffs from Boeing this year.

[perfectfire]

Someone posted this awesome old article over on the ticker forums: http://www.seattleweekly.com/2003-12-24 ... eing-wins/

[plymster]

[rose-colored-coolaid]

[perfectfire]

[FreedomLover]

Expect 20K layoffs from Boeing and 20-30K from Microsoft, with cascading effects of another 100K layoffs in the rest of the Seattle metro area in the next 18 months.

[rose-colored-coolaid]

[buyStocks]