The world’s largest plane manufacturer Boeing plans to cut more than 4,500 jobs by the middle of the year to reduce costs, the BBC reports.
A company spokesman said about 1,600 positions will go through voluntary redundancies while the rest will take place through attrition.
The bulk of the layoffs is set to come from its commercial aircraft division as customers cut back on orders.
Hundreds of executives and managers are also expected to lose their jobs.
The cuts account for almost 3% of Boeing’s workforce, which comprised 161,000 people at the end of last year.
Boeing is reacting to concern that demand for its jets is slowing.
The US company has also been losing market share to rival Airbus Group SE.