Boeing Commercial Airplanes is expected to layoff hundreds of engineers in Washington state later this week with additional cuts coming later this year.
In a letter sent to effected employees, Boeing’s vice president of engineering, John Hamilton, said the global company is making the cuts in order to stay competitive, according to multiple reports.
The Chicago-based company reported a 2016 revenue of $95 billion and currently employs 74,200 people. Over the past year, Boeing has terminated more than 9,000 employees, primarily through retirements and buyouts.
Earlier this month, Boeing said it had agreed to sell $3 billion in airplanes to an Iranian airline, though President Trump could thwart the deal.
Trump also negotiated with Boeing in the first few weeks of his administration and was able to cut the cost of two new Air Force One planes by more than $1 billion.
