Business & Finance
Boeing Co. said it will lay off up to 30,000 workers in its commercial airliner division by the end of next year. The US's largest aerospace company conceded it can't immediately recover from the damage to the industry following last week's terrorist attacks. All four of the planes used by the hijackers were built by Boeing.
In a day heavy with other layoff developments:
Honeywell International increased its payroll reductions, announced earlier this year, by 3,800 - bringing the total so far to 12,000.
Two more regional US airlines, Midwest Express Holdings and Frontier, announced a combined 900 job cuts. Midwest is based in Milwaukee; Frontier in Denver.
Air Canada, the world's 10th-largest carrier, warned of job cuts if the Ottawa government doesn't provide it with $2.5 billion in relief "on a purely comparable basis" with what is expected to be granted to the US airline industry.
Japan's Mitsubishi Electric Corp., said "we will go ahead with" another 1,000 job cuts if the global market for semiconductors continues to stagnate. The company previously announced 1,000 layoffs last Friday.
Alta Vista, the Internet search engine, announced another 160 job cuts in its third round of layoffs this year.
Many of Japan's major corporations joined the ranks of overseas businesses offering donations to the victims of last week's terrorism. Sony pledged $4 million. Electronics giants Matsushita, Toshiba, and Fujitsu each said they were contributing $1 million, as did automakers Toyota and Nissan and Bridgestone/Firestone. Honda vowed to match the donations of its workforce in the US. Canon, the cameramaker, said it would match the contributions of its 40,000 Japanese employees to the Red Cross.
