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Boeing employees move en masse to Amazon and SpaceX

Hundreds of Boeing employees move to Amazon and SpaceX

Boeing is cutting staff due to record financial losses following two plane crashes and a pandemic.

Hundreds of former Boeing employees have moved to Amazon and SpaceX as Boeing is downsizing. About it informs Blooomberg on Monday 26 July.

The agency, citing LinkedIn data, writes that Amazon currently employs about 1,100 people from Boeing, and SpaceX has at least 200.

Also ex-Boeing employees move to Microsoft, Lockheed Martin and Northrop Grumman.

In total, more than 3,200 engineers and technicians have left the Boeing aircraft manufacturing center in Seattle in early 2020.

“We are wondering if Boeing is suffering from a talent churn, as a potentially very large number of engineers have left the company in recent years, and the recent hiring process has not filled that gap,” said Bank of America analyst Ron Epstein.

Boeing is cutting staff amid record financial losses.

“Previously, the company ramped up aircraft production, which resulted in record sales. But this strategy has stopped working after two 737 MAX plane crashes, which killed 346 people. They were a PR nightmare for Boeing and hurt revenue. Then, due to the pandemic, the demand for another aircraft of the company – the Boeing 787 Dreamliner – fell, “the agency writes.

Over the past years, Boeing’s “cost-obsessed” executives have spent more than $ 40 billion to buy back shares in the company, Bloomberg adds.

Due to this strategy, the company turned out to be ill-prepared for difficult times and new threats from competitors, the news agency concluded.

Recall that about 2.5 thousand aircraft Boeing 737 will be checked for malfunction… American airlines will have to check and, if necessary, replace both differential pressure switches on each side.

It was also reported that Boeing will finalize Dreamliner aircraft… Production of Dreamliner aircraft will be temporarily limited, but will return to the previous level after revision.

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