ST. LOUIS - Aerospace giant Boeing filed a notice with Missouri's Office of Workforce Development that it will lay off nearly 700 workers in the state at the start of next year.

Boeing filed the Worker Adjustment and Retraining Notification (WARN) notice on Wednesday. The federal WARN Act requires employers to provide a 60-calendar day notice in advance of covered plant closings or mass layoffs.

Affected locations have been identified in Berkeley, Hazelwood, Kansas City, Kingsville, Maryland Heights, O'Fallon, St. Charles, St. Louis City, and St. Ann.

"As previously announced, we are adjusting our workforce levels to align with our financial reality and a more focused set of priorities," a Boeing spokesperson said in a statement to FOX 2 News. "We are committed to ensuring our employees have support during this challenging time."

The company said most of the 692 employees to be laid off will leave Boeing in mid-January. The WARN notice gives a layoff date of Jan. 7, 2025. The reductions include attrition and "concentrating backfill for open positions on business-critical priorities."

Some employees will be eligible for severance pay, career transition services, and healthcare benefits up to three months after leaving, the company said.

In October, Boeing said it would lay off approximately 10% of its workforce worldwide to make up for lost revenues.

As of Nov. 20, 2024, Boeing stock (NYSE: BA) is trading at $146.08 a share, down 32.9% from this day last year. The stock has dropped more than 60% over the last five years as a result of the COVID-19 pandemic.