Business

Boeing to Reduce Workforce by 2,500 in Major Restructuring Effort

Boeing is set to lay off over 2,500 employees across the U.S. states of Washington, Oregon, South Carolina, and Missouri, as indicated by federally mandated filings released on Monday and confirmed by a union representative. Approximately 2,200 of these layoff notices were issued in Washington, while another 220 were sent to employees in South Carolina, where the company manufactures commercial aircraft, including the 777X jetliner, a key focus for Boeing. This decision aligns with the debt-laden aerospace giant’s broader plan

Boeing Announces Layoffs: 10% of Workforce, 17,000 Jobs at Risk

Thousands of Boeing employees are about to learn if they’re included in the company’s latest round of layoffs. The aerospace giant announced it will issue layoff notices on Wednesday to employees impacted by a planned workforce reduction of approximately 17,000 positions. This measure is intended to help Boeing regain its competitive edge as it navigates multiple challenges, including decreased output following a near-catastrophic accident involving a 737 Max plane and a seven-week strike that halted production at its Puget Sound

EV Manufacturer Rivian May Face First Quarterly Revenue Fall Post-IPO

When Rivian reports on Thursday, it is expected to announce its first quarterly revenue decline since its IPO three years ago. The company, which is focused on ramping up production of its R1 SUV and pickup while also introducing a more affordable R2 model, faces growing pressure to meet its goal of profitable growth. This challenge is intensified by a broader slowdown in electric vehicle demand, driven by higher interest rates and weak consumer sentiment. These factors have created a

Volkswagen’s Labor Leader Raises Concerns Over Large-Scale Job Cuts

Amid a slump in sales, Germany’s most extensive carmaker plans to shut at least three factories in the country and lay off tens of thousands of staff, shrinking its remaining plants in Europe’s biggest economy as it plots a deeper-than-expected overhaul. On Monday, the company’s works council head said that management considers “at least one vehicle plant and two-component plants” in Germany dispensable, although it did not specify which locations. The powerful body, which represents workers and has half of

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Reasons to Consider Taking an Executive MBA Program

You now deem it the ideal time to join business school. Congratulations! This is a step in the right direction if you are to change your life for the better. After all, accelerating career progressions and enhancing key knowledge and skills are among the main reasons why individuals choose to attend business school. But not many people are willing to take time away from family and work life to pursue a full-time Master’s degree in Business Administration course. If you’re