Boeing internal memo warns of involuntary layoffs of engineers in 2017

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Boeing Co warned on Tuesday that it will conduct involuntary layoffs of engineers, part of an ongoing cost-cutting drive as the aerospace and defense company responds to increasing competition amid slowing aircraft sales.

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The reductions, disclosed in an internal memo seen by Reuters, also include voluntary layoffs. It did not indicate the number of reductions the company planned.

(Reporting by Alwyn Scott; Editing by Sandra Maler)