Boeing internal memo warns of involuntary layoffs of engineers in 2017

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.

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)