Layoff in HR and Finance: Boeing begins kicking out 2000 employees
After several companies sacked their employees in the tech department, the layoff also seems to be hitting other units like HR and finance. Most recently, Boeing announced firing employees from HR and finance divisions. As per recent reports, the company is kicking out nearly 2000 white-collar jobs in the recent round of layoffs.
These terminations will be through a combination of attrition and layoffs. Even though about 2,000 employees are expected to be cut, some new employees are expected to be hired, according to a report by Reuters.
The company revealed that it is outsourcing about one-third of these jobs to Tata Consultancy Services (TCS) in India and that it will continue to modify its corporate structure by “lowering staffing within some support functions.”
This is not the first round of layoffs that Boeing has announced. Before this in 2022, the company was gearing up to bid adieu to about 150 finance staff in the US.
The statement by the company again stated that it was to simplify the company’s corporate structure and to focus more resources on manufacturing and product development.
Boeing, which has dealt with engineering and production issues in the past, increased its workforce by about 10,000 employees at the beginning of 2022. Boeing also ramped up hiring in its engineering and manufacturing departments to respond to the market demand last year.
Not just Boeing, most firms are firing their employees in the light of a global economic slowdown, with the exception being a few companies like Apple. These job cuts are said to be an effort to reduce costs and make ends meet.