Reuters has reported Boeing Co. will officially end its Boeing 747 program in 2022, continuing to produce 0.5 747s per months until all orders are fulfilled, the news source said.
The announcement marks a change in one of Boeing´s worst quarters of all time. The Chicago-based manufacturer lost USD 2.3 billion between April and June 2020, forcing the company to make decisions about both their workforce and future production.
Reuters reported Boeing faces order cancellations and a lack of new purchase orders due to the COVID-19 pandemic. The revelations came from the company´s 2020 second quarter financial report, released Wednesday, July 29, 2020.
As the 747 comes to an end, jobs may also be on the line inside the aviation giant. Although the company began laying off 10 percent of their workforce in May 2020, internal documents now suggest that the company could trim even more positions.