CHICAGO -- Boeing says it will cut 16,000 jobs about 10% of its work force and slow production of planes as it deals with the ongoing grounding of its best-selling plane and the coronavirus pandemic.With air travel falling sharply because of the virus, airlines have delayed orders and deliveries of new planes, reducing Boeing's revenue.The company announced the job cuts as it reported a loss of $641 million in the first quarter. It earned $2.15 billion in the same period last year.Revenue fell 26% to $16.91 billion.Boeing says jobs will be eliminated through a combination of voluntary exits and layoffs.They will be deepest in the division that makes airline jets, and less severe in the company's defense and space unit.

Source: Ethiopian News April 29, 2020 12:00 UTC