Boeing Company (BA.US) is cutting 400 jobs to reduce costs as the cost of the NASA moon landing program has soared due to delays.

Boeing Company (BA.US) announced on February 7th that it plans to downsize its Space Launch System (SLS) team before April 2025, with an estimated reduction of about 400 positions. This layoff is to align with adjustments to NASA's Artemis program and changes in cost expectations. Boeing Company stated that affected employees will receive a 60-day involuntary layoff notice in the coming weeks. A company spokesperson emphasized that Boeing Company is working with clients to find opportunities to redeploy employees in order to minimize layoffs. The Artemis program is a crucial space exploration project led by NASA, with the goal of sending astronauts back to the Moon by 2025 and laying the groundwork for future Mars missions. The project is expected to cost $93 billion by 2025. However, since its inception, it has faced numerous challenges, including severe delays and escalating costs. The crewed lunar orbit mission of Artemis II has been postponed from late 2024 to September 2025, while the first manned lunar landing mission of Artemis III has been delayed from late 2025 to September 2026 from the original plan.