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As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
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Boeing’s Commercial Jets Unit Is Cutting More Jobs Next Year

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December 19, 2016, 2:28 PM ET
Boeing's Newest 787 Prepares To Take Off As Trump Roils Trade
An employee works on the surface of an overhead compartment at the Boeing Co. interiors responsibility building in North Charleston, South Carolina, U.S., on Tuesday, Dec. 6, 2016. On the day President-elect Donald Trump lashed out at Boeing Co. for the cost of replacing Air Force One, mechanics and engineers at the planemaker's South Carolina factory were focused on another challenge: making the first 787-10 Dreamliner. The manufacturer is counting on the newest and longest Dreamliner to help turn its marquee carbon-fiber jet into a cash machine. Photographer: Travis Dove/Bloomberg via Getty ImagesPhotograph by Travis Dove—Bloomberg/Getty Images
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Boeing’s commercial airplanes unit said on Monday it would reduce its workforce in 2017, adding to the about 8% jobs the company has cut since the beginning of 2016.

The company is offering a voluntary layoff program in early 2017, adding that involuntary layoffs may occur in some cases, Boeing Commercial Airplanes (BCA) said in an internal memo.

This year’s job cuts include a 10% reduction of executives and managers.

BCA (BA) said it would focus on reducing non-labor costs next year amid a tough competitive environment for its aircraft business.

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Boeing said last week that it would cut production of its twin-aisle 777 jetliner to five a month in August 2017, a 40% reduction from the current rate of 8.3% a month, as it spends more to produce new models.

Reuters reported in February that Boeing was considering layoffs of airplane engineers.

A spokesman for the division said that employees participating in the voluntary layoff program will receive a lump sum payment of one week’s pay for each year served, for a maximum of 26 weeks.

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