Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Thursday, February 04, 2021 1:45:30 PM
By: TheStreet | February 4, 2021
• Boeing will outsource the majority of its IT needs to Dell, a move that will eliminate about 600 jobs at the Chicago aerospace giant.
Boeing (BA) will start outsourcing a significant amount of its information technology work to Dell Technologies (DELL), a move that will eliminate 600 jobs at the Chicago aerospace giant.
The eliminated jobs represent about 10% of Boeing's IT staff, according to a message that Susan Doniz, Boeing's vice president for IT and data analytics, sent to employees, according to the Seattle Times.
Most of the affected employees are not unionized, Doniz said. They must find different work within the company, apply to work for Dell, or be laid off.
Boeing shares at last check were up 2.1% to $211.69. Dell traded up 1.3% at $78.76.
Boeing eliminated 20,000 jobs companywide last year and said it has plans to reduce headcount by another 11,000 this year.
“This is a change we would have made even without a global pandemic,” Doniz said, according to the Seattle Times. She also said the coronavirus pandemic "certainly quickened our pace."
The company did not specify where most of the layoffs would be initiated, but the Seattle Times suggested the biggest layoffs could come at major Boeing offices in the Puget Sound region, St. Louis and Charleston, S.C.
Last week, Boeing was double-upgraded to overweight from underweight at Morgan Stanley, with analyst Kristine Liwag calling the Chicago aerospace giant "a covid-19 recovery play with upside."
She lifted her share-price target to $230 from $165.
Boeing got all the bad news out in its “kitchen sink” earnings report in January, sending earnings estimates down and providing a “clear runway for Boeing” stock, Liwag said.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent BA News
- Visa Faces Monopoly Lawsuit; Meta Introduces Celebrity Voices for Chatbot; Stellantis on the Hunt for New CEO • IH Market News • 09/24/2024 10:15:50 AM
- Apollo Eyes $5 Billion Investment in Intel; TSMC and Samsung Explore UAE Chip Projects, and More • IH Market News • 09/23/2024 10:32:25 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/20/2024 09:27:37 PM
- Boeing Completes First Flight of UK E-7 Wedgetail • PR Newswire (US) • 09/20/2024 07:53:00 PM
- AIG names new CFO; Progyny Drops 24% After Losing Key 2025 Contract; Exicure Jumps 190% With Nasdaq Extension • IH Market News • 09/19/2024 10:26:48 AM
- Meta Strengthens Child Privacy on Instagram; Google Overturns $1.7 Billion Antitrust Fine; Snap Updates Spectacles • IH Market News • 09/18/2024 10:13:07 AM
- Microsoft Boosts Share Buyback, Raises Dividends by 10%, Intel Secures Chip Deal with Amazon • IH Market News • 09/17/2024 10:40:35 AM
- EMBRAER S.A. - MATERIAL FACT • PR Newswire (US) • 09/16/2024 01:24:00 PM
- Intel Secures $3.5 Billion Subsidy, Stellantis Backs EU Emissions Targets, BP and Apollo Reach $1 Billion Deal • IH Market News • 09/16/2024 10:03:27 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/13/2024 09:11:01 PM
- OpenAI Unveils Strawberry AI Model Series; Boeing Stock Falls 4% Amid Strike; HR Surges 20% on Growth Forecast • IH Market News • 09/13/2024 10:12:55 AM
- Norfolk Southern CEO Fired, Ryanair Lowers Fare Forecast, 23andMe Considers Acquisition Proposals • IH Market News • 09/12/2024 10:02:29 AM
- GameStop plunges 11% on stock offering, DJT drops post-debate, GSK fails shingles vaccine trial • IH Market News • 09/11/2024 10:25:41 AM
- Boeing Pioneering Quantum Communications Technology with In-Space Test Satellite • PR Newswire (US) • 09/10/2024 02:15:00 PM
- Apple Loses EU Dispute; Google’s $2.7 Billion Fine Upheld; Oracle Shares Surge 9% • IH Market News • 09/10/2024 10:02:31 AM
- Dell, Palantir, and Erie Will Be Added to the S&P 500; Boeing Avoids Strike; Apple Event Takes Place Today • IH Market News • 09/09/2024 10:05:35 AM
- Boeing CFO Brian West to Speak at Morgan Stanley Laguna Conference September 13 • PR Newswire (US) • 09/06/2024 03:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 09:09:48 PM
- Qualcomm Develops Mixed Reality Glasses; Verizon to Boost Dividend, Eyes Acquisition; Samsonite Plans US Dual Listing • IH Market News • 09/05/2024 10:11:35 AM
- Nvidia Subpoenaed by DOJ, Athira Pharma Shares Plunge 71% After Study Fails, Zscaler Falls 15% Post-Earnings • IH Market News • 09/04/2024 09:50:25 AM
- U.S. Steel Shows Weakness, Boeing Under Pressure, Unity Software Should Show Initial Strength • IH Market News • 09/03/2024 01:12:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/29/2024 11:48:30 PM
- High Volatility Expected in Nvidia Report, Ambarella Soars 20%, Hertz Strengthens Board, Apple Cuts Jobs • IH Market News • 08/28/2024 09:50:36 AM
- Apple Names New CFO, Sony Hikes PS5 Price in Japan, Santander Launches Share Buyback • IH Market News • 08/27/2024 09:35:22 AM
- Boeing: China Commercial Fleet to More than Double by 2043 for Growth and Modernization • PR Newswire (US) • 08/27/2024 03:30:00 AM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM