Boeing Plans to Cut 10,000 Jobs as Demand Weakens

Boeing Co. said it plans to cut 10,000 jobs, or more than 6 percent of its workforce, after a strike and program delays led to a fourth-quarter loss and a global recession began to erode demand for aircraft.

The job reductions include 4,500 that were previously announced by Boeing, the second-largest maker of commercial planes and the No. 2 defense contractor. The new target was disclosed on a conference call after the Chicago-based company reported a net loss of $56 million after a year-earlier profit and said 2009 earnings will be lower than analysts predicted.