Boeing to cut workforce by 10% and reduce 787 production due to pandemic

Boeing Co said on Wednesday it would cut its workforce by about 10 percent and further reduce 787 Dreamliner production after reporting a loss for the second straight quarter as the coronavirus pandemic hits global travel demand.

Its stock was up 5.4 percent at 138.34 U.S. dollars in premarket trading.

Planemakers, airlines and suppliers have been left reeling by the pandemic, which has crippled passenger travel, catapulted major economies into recession and forced major companies to scramble for cash to weather the downturn.

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