Boeing's Revised Flight Plan
When Boeing Co. announced on Dec. 2 that canceled orders from Asian carriers would force it to cut back production by 25% starting in 2000, management finally acknowledged publicly what investors had long feared: The aerospace giant's earnings would be one of the biggest U.S. casualties of the global meltdown. What Boeing has yet to disclose, however, is how seriously it is still being victimized by its own inefficiencies--which won't be solved by its new plan to cut as many as 48,000 jobs by 2000.
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