The Boeing Co. (NYSE: BA) is laying off some of its finance employees this year as the company focuses on filling more engineering and manufacturing roles.
A Boeing spokesperson said in an emailed statement that roughly 150 U.S. finance and accounting employees will be laid off this year as the company “simplifies processes, improves efficiency and shares select work with an outside partner.”
The Seattle Times identified Boeing’s outside partner as Tata Consultancy Services in India. The layoff notices will go out in October.
The company said the layoffs would be companywide, across all U.S. sites. The Times said at least 1,000 members of Boeing’s finance team are based in the Seattle area.
The spokesperson also said Boeing has added 10,000 employees this year, concentrated on the engineering, manufacturing and product development side of the company. At the outset of the pandemic in 2020, Boeing cut thousands of engineers and machinists from payrolls. That number eventually hit 20,000 companywide. Over the course of 2020, the company began expanding overseas, which caused backlash among unions.
“For the last several years, we’ve been simplifying our corporate structure to reduce complexity and focus more resources in engineering, manufacturing and product development,” the spokesperson said. “Several of our corporate functions, including Information Technology and Finance, have implemented changes to streamline their operations, resulting in lower staffing levels within some corporate functions.”
Arlington, Virginia-based Boeing Co. is one of the St. Louis region’s largest employers, with nearly 15,000 local employees of over 140,000 companywide, as well as one of its largest defense contractors. Boeing Defense, Space & Security has large operations in the St. Louis area. Boeing plants in St. Charles, St. Louis and Mascoutah produce weapons and military aircraft including the F-15, F-18, T-7A trainer, and the MQ-25 unmanned refueler.
The St. Louis Business Journal contributed information to this report.
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