Boeing sacks hundreds of engineers, stock jumps

‘Aerospace and weapons giant Boeing Co told employees in a memo that, as part of a “second phase of involuntary layoffs,” it would fire “hundreds of engineering employees” from its commercial airplanes division, according to a new report.
On Monday, Boeing said that the hundreds of job cuts would start on June 23, according to a memo to employees provided to Reuters.
In the memo, John Hamilton, vice president of engineering at Boeing Commercial Airplanes, said the layoffs were part of an effort to slash costs amid a lag in aircraft sales.’
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