Boeing, one of the two biggest aircraft manufacturers; aside from the European aircraft behemoth, Airbus is looking to find its way after losing its path, shrouded by myriad controversies in the past few years. The company, as per reports, has laid off 180 of its employees in India.
Boeing Lays off 180 Engineers
These layoffs have come to pass in the Boeing India Engineering Technology Center (BIETC) in Bengaluru.
This wing comes under Boeing’s Indian arm, Boeing International Corporation India Private Limited.
This is being seen as part of the company’s effort to downsize and therefore streamline its operations.
Boeing’s Struggles
The company has been mired in different forms of controversies. It has had issues with efficacy and quality of its aerospace products. In 2024 itself, multiple instances of myriad accidents and ‘close-shaves’ were reported by those airlines, using Boeing aircraft.
In addition, the mysterious death of one of its former employees and the death of another contracted employee (former) employees has led to the raising of fingers against the company and its rectitude.
As a result of this, the company had to see off its longtime CEO Dave Calhoun, making way for its new chief in the form of Kelly Ortberg.
The company, ever since its series fo debacles behind its biggest competitor, its European rival, Airbus. The company has tried to play catch up since then, amid the ongoing investigations and regulatory struggles.
Boeing Shares
In the past 6 months of trade at Wall Street, the company stocks have made major gains. |
When we look at the company’s performance at the equity markets, after struggling under Calhoun, it has managed to make some sort of a comeback in the recent past, the company shares have zoomed ever since Ortberg took over the reins in August 2024.
In the past 6 months of trade on Wall Street, the company stocks have made gains of 14.31 per cent or USD 22.30 per share. This has pushed the overall value of company shares to USD 178.11 per piece.
