Boeing set to announce significant U.S. job cuts this week: union

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WASHINGTON (Reuters) – Boeing Co is expected to announce U.S. job cuts this week after disclosing last month it planned to shed 10% of its worldwide workforce of 160,000 employees, people briefed on the plans and a union said.

A spokesman for the Society of Professional Engineering Employees in Aerospace (SPEEA) union that represents 17,600 Boeing employees told Reuters Tuesday the company informed the union it should expect layoff notices on Friday.

Boeing declined to comment.

In April, Boeing chief executive Dave Calhoun said the company had “begun taking action to lower our number of employees by roughly 10% through

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Americas will be hardest hit by COVID-19 job losses :ILO

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GENEVA (Reuters) – The Americas will bear the brunt of an estimated 305 million job losses that the COVID-19 pandemic will cause worldwide between April and June, the International Labour Organization (ILO) said on Wednesday.

FILE PHOTO: People who lost their jobs are reflected in the door of an Arkansas Workforce Center as they wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), in Fort Smith, Arkansas, U.S. April 6, 2020. REUTERS/Nick Oxford -/File Photo/File Photo

The outbreak also risks creating a “lockdown generation” of young people forced to play catch-up on the labour

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Tractor Supply, Disney, Boeing, Tesla & more

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Take a look at some of the biggest movers in the premarket:

Tractor Supply (TSCO) – Tractor Supply said it expected record-breaking sales and earnings for the current quarter, and that comparable-store sales for the farm supply company would grow by 20% to 25%. Tractor Supply shares are up 47% since nationwide lockdowns began in mid-March, the best gain of any retail stock in the S&P 500.

Walt Disney (DIS) – Disney will submit a plan today to Orange County officials for reopening its Walt Disney World resort. Disney needs approval from the county and then from the governor before

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Greensill drops libel suit against Reuters over bond story

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LONDON (Reuters) – Greensill Capital said it has dropped a libel suit against Reuters over a story which said that the financing group had provided a false statement to market participants in 2018.

A logo of Thomson Reuters is pictured on a truck during preparations for the annual meeting of the World Economic Forum (WEF), in Davos, Switzerland January 19, 2020. REUTERS/Denis Balibouse

The statement related to bonds it had issued the prior year on behalf of commodities tycoon Sanjeev Gupta.

Greensill said in the May 2018 statement that the Scottish government had approved a guarantee related to a hydro

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