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 Deputy Editor, National IT Editor, and Editor of Xconomy Boston. E-mail him at gthuang [at] Follow @gthuang

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