Boeing Clips Its Own Wings

Boeing is cutting about 10,000 jobs this year, or 6 percent of its workforce, according to chief executive James McNerney. The news was announced in a conference call this morning. Boeing cited decreased revenues and the global economy as reasons for the cutbacks, which will occur through a combination of layoffs, retirements, and attrition. More than half of the losses will be in Washington state, according to the Seattle Times.

Gregory T. Huang is Xconomy's Editor in chief. E-mail him at gthuang [at] xconomy.com. Follow @gthuang

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