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Boeing lays off 2,000
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October 15, 1998: 7:48 a.m. ET
Aerospace giant will slash jobs in Wichita plant by the end of 1999
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NEW YORK (CNNfn) - As part of its strategy to reduce production costs and step up profitability, aerospace giant Boeing Co. apparently is slashing some 2,000 jobs at its plant in Wichita, Kansas.
The Wichita Eagle reports that Boeing Chairman Phil Condit delivered the news yesterday to workers, saying he hopes to achieve most of the staff reduction through attrition over the next 15 months.
Boeing's Wichita plant now has about 21,500, including contract engineers, the report said. That's already 800 fewer employees than in August.
Company officials said in July they hope to cut a total of 28,000 jobs company-wide, which would lower its employee base to 210,000.
According to the Eagle, Boeing issued around 1,100 surplus notices to workers, mostly in Seattle, earlier this month. The notices, none of which were delivered to Wichita employees, notified employees that they are in danger of losing their jobs in 60 days.
Boeing shares (BA) closed up 1/8 at 33-1/2 on the New York Stock Exchange Wednesday, down significantly from its 52-week high of 56 set back in May. 
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Boeing
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