Union workers at Boeing Inc. are bracing for significant job cuts to be announced this week, according to multiple news reports. Citing union officials, the Puget Sound Business Journal, Reuters and Bloomberg News all reported Tuesday that deep cuts will be announced in the coming days, mostly in Washington and California. About 1,300 union workers have reportedly already applied to take voluntary buyouts. The Puget Sound Business Journal reported that 15% to 20% of white-collar engineering jobs may be eliminated in the Seattle area and Southern California. The Wall Street Journal reported in April that the airplane maker may cut up to 10% of its workforce — about 16,000 jobs — amid a tough business environment that has been exacerbated by the coronavirus pandemic.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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