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Economy: Layoffs / Boeing #177620

ABC Evening News for Wednesday, Dec 02, 1998
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(Studio: Charles Gibson) Announcement of job cuts by B.F. Goodrich, Kellogg and ITT (International Telephone and Telegraph Corporation) noted.

(New York: Betsy Stark) The three reasons for corporate job layoffs amidst a booming economy featured; layoff statistics cited; details given of mergers, the Asian economic slump and the pressure of Wall Street on industry. [Kellogg Company Joseph STEWART - defends the cuts.] [Challenger, Gray and Christmas John CHALLENGER, Economic Policy Institution Robert SCOTT - explain why there are cutbacks.]

(Studio: Charles Gibson) Statement from President Clinton about the Boeing Company layoffs noted.

(Seattle: Brian Rooney) The bust cycle at Boeing due to the Asian market and internal problems examined. [Two Boeing WORKERS - comment on the cycle.] [Aerospace industry analyst William WHITLOW, International Association of Machinists Bill JOHNSON - cite Boeing's production problems.]

(Studio: Charles Gibson) Stock Market Report.

Reporter(s):
Gibson, Charles;
Rooney, Brian;
Stark, Betsy
Duration:
00:04:40

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