Business briefs for Nov. 21
Published 7:53 am Wednesday, November 20, 2024
Boeing told state officials on Monday it will lay off 50 workers at its Oregon location, part of its plan to reduce its global workforce by 10%. Worldwide, the plane-maker plans to cut 17,000 jobs, according to Reuters, including a total of 2,200 in Washington or Oregon. The layoffs come after the conclusion of a 53-day strike that added to the company’s problems, including manufacturing lapses that contributed to the midair blowout of a 737 MAX plane when a door plug panel dislodged shortly after takeoff from Portland early this year. Boeing has said it will take time to resume the production of planes after the resolution of the strike. The company employs about 1,100 at a manufacturing facility in Gresham, according to an undated post on the Oregon Business & Industry website. Boeing employs 171,000 worldwide, according to its last annual report.
Comcast is spinning off many of NBCUniversal’s cable television networks, including USA Network, CNBC and MSNBC, into a separate public company. The shift, which comes as more and more people opt for streaming services over traditional cable, was telegraphed by the company when it released its most recent earnings last month. Mark Lazarus, current chairman of NBCUniversal Media Group, will serve as the new entity’s chief executive officer. Comcast hopes to have the spin-off completed in about a year, the cable giant said, pending board approval, financing and regulatory approvals.
Ford is cutting its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker-than-expected sales of electric cars. Ford said most of the job cuts — which amount to about 14% of its European workforce — would come in Germany and would be carried out in consultation with employee representatives. The company said that it would also reduce working time for workers at its Cologne, Germany, plant where it makes the Capri and Explorer electric vehicles.
Campbell’s is ditching the soup — at least in name. And the change has now received shareholders’ greenlight. Campbell Soup Co. announced its intention to change its name just over two months ago, saying it wanted to instead be known as the, slightly shorter, Campbell’s Co. to reflect the 155-year-old company’s full portfolio. Shareholders overwhelmingly approved the change on Tuesday. The new name will officially be effective following an amendment filing to the company’s certificate of incorporation. According to New Jersey-based Campbell’s, its iconic soup brand and red and white packaging will not be affected.