Boeing warns of job cuts during 2009

  • Thursday, November 20, 2008 6:06pm
  • Business

The Boeing Co. warned Thursday that employment will decline in 2009 as the company responds to the global economic situation. The company announced Wednesday that it would cut 800 defense jobs in Wichita, Kan. Boeing did not specify how its commercial airplanes operation will be impacted. Boeing’s employment drop next year could exceed its typical attrition rate of 4 to 5 percent. The company could handle the decline by letting go of contract workers, attrition and layoffs.

Zumiez reports drop in 3Q income

Zumiez, a retailer of sports apparel, equipment and accessories, reported a drop in its third quarter net income to $6.8 million, down from $8.1 million in the same quarter in 2007. Comparable store sales also decreased 5.8 percent compared to a 13.2 percent increase a year ago. As retailers struggle amid the economic downturn, the Everett-based company saw sales and product margins shrink in September and October compared to its year-to-date trends through August. Zumiez recently lowered sales and earnings expectations for the rest of 2008, said Rick Brooks, chief executive officer of the company.

Barnes &Noble’s loss tops prediction

Barnes &Noble Inc. reported a larger-than-expected quarterly loss Thursday on significant drops in traffic and consumer spending at its stores. The company reported a loss of $18.4 million, or 34 cents per share, compared with a profit of $4.4 million, or 7 cents per share, a year earlier. Revenue dipped to $1.12 billion for the quarter, from $1.18 billion. Analysts surveyed expected a loss of 16 cents per share on revenue of $1.17 billion. The company now expects fourth-quarter profit of $1.40 to $1.70 per share and $1.30 to $1.60 per share for the year.

Rolls-Royce cuts jobs on 787, A380 delays

Rolls-Royce Group PLC said Thursday it plans to cut up to 2,000 jobs next year as demand for its products slumps amid the global economic downturn. The world’s second largest maker of aircraft engines said it plans to slash 140 jobs at its aerospace assembly and test facility in Derby, England. The plan will help it trim costs and reduce output as demand drops because of an uncertain economic outlook and delays on some of the company’s most high-profile projects, such as the Airbus A380 and Boeing 787. The reduction in head count comes on top of 2,300 job losses the company announced in January.

Dell 3Q profit falls as PC spending slows

PC maker Dell Inc. said Thursday its third-quarter profit fell 5 percent as businesses around the world bought fewer computers and other technology products. Dell’s earnings dipped to $727 million, from $766 million a year ago. But Dell bought back a significant number of shares over the last year, pushing earnings per share up 9 percent, to 37 cents per share. That was 3 cents better than analysts were expecting, according to a Thomson Reuters poll. Sales slipped 3 percent to about $15 billion. The slowdown in spending by corporations could not be offset by a 10 percent rise in consumer PC revenue.

From Herald news services

Talk to us

More in Business

Gillian Montgomery weighs a bag of bird seed at Wild Birds Unlimited on Monday, Oct. 23, 2023 in Everett, Washington. (Olivia Vanni / The Herald)
Bird and cat lovers flock to this Everett bird supply store

Bring on the birds! Locally owned Wild Birds Unlimited store can help turn your backyard into a “seedy” restaurant.

Brielle Holmes, 3, points to a stuffed animal that she likes at Wishes toy store on Monday, Oct. 23, 2023 in Alderwood, Washington. (Olivia Vanni / The Herald)
Local toy store chain got its start as kiosk at Everett Mall

Wishes now operates eight stores, including three in Snohomish County. Its Alderwood mall store is a roomy 7,000 square feet.

Manager Rika Rafael, left, visual merchandiser April Votolato, center, and assistant manager and events coordinator Jaidhara Sleighter stand at the entrance of East West Books & Gifts’ new location Friday, Oct. 27, 2023, in downtown Edmonds, Washington. (Ryan Berry / The Herald)
‘We were meant to be here’: East West Books Gifts reopens in Edmonds

Located in Seattle before the pandemic, the new store offers books and other resources on meditation, spirituality and yoga.

Members and supporters of the Snohomish and Island County Labor Council gather on Oct. 10 at the Edward D. Hansen Conference Center in Everett. The the Affiliate Labor Champion Award was given to the International Association of Machinists 751. Wes Heard, center, accepted the award on behalf of IAM 751. Photo credit: Snohomish and Island County Labor Council.
Snohomish & Island County Labor Council honors labor leaders

The labor council’s annual Champions Dinner recognized two local labor leaders and a machinists union last month.

Two students walk along a path through campus Thursday, Aug. 4, 2022, at Everett Community College in Everett, Washington. The college’s youth-reengagement program has lost its funding, and around 150 students are now without the money they need to attend classes. (Ryan Berry / The Herald)
Fewer students enroll at state’s public colleges, study says

Enrollment has picked up since the pandemic, but the lag threatens the state’s quest for education equity.

Michelle Roth is a registered nurse in the Providence Emergency Department on Sunday, January 23, 2022. (Kevin Clark / The Herald)
Health career job fair to be held Thursday in Everett

More than 14 health care related employers will attend the Snohomish County/Workforce Snohomish event.

Logo for news use, for stories regarding Washington state government — Olympia, the Legislature and state agencies. No caption necessary. 20220331
State gets $1 million grant to boost small-business exports

Washington’s Department of Commerce will use the federal grant to help small companies increase their export business.

NO CAPTION. Logo to accompany news of education.
Grant to help fund health care program at Edmonds College

  1. The $220,000 grant from Career Connect Washington aims to improve the college’s patient care technician program.

Lead climbers head up their respective routes at Vertical World North on Monday, Nov. 20, 2023, in Lynnwood, Washington. (Ryan Berry / The Herald)
Beginner’s ascent: A newcomer’s guide to indoor climbing

Indoor climbing gyms in and around Snohomish County offer thrills without winter chills.

A view of the Broadway construction site of Compass Health’s new mental health facility on Wednesday, Nov. 29, 2023 in Everett, Washington. (Olivia Vanni / The Herald)
Compass Health dedicates Everett block to housing and behavioral health services

The “state-of-the-art” project is set to total over $90M. The nonprofit has asked for public support.

More than 150 people attend a ribbon cutting event on Nov. 16, 2023 celebrating the completion of Innovation Hall at the University of Washington Bothell and Cascadia College campus. The building, which highlights STEM instruction and research, opens to students in January. Credit: Tara Brown Photography/UW Bothell
New science, math facility opens in January at UW Bothell

Innovation Hall is the first new building to be constructed at the Bothell university campus in 10 years.

Rairdon Auto Group acquires Pignataro VW in Everett

Everett VW dealership is the 12th for the Rairdon Group, which marks 30 years in business this year.

Support local journalism

If you value local news, make a gift now to support the trusted journalism you get in The Daily Herald. Donations processed in this system are not tax deductible.