The world's largest aircraft manufacturer, Boeing, has announced further big job cuts, and reductions in its aircraft production.

The company said the moves were due to the effects of the Asian economic crisis, which had led to a fall in demand for new planes.

Boeing said that in addition to almost thirty thousand job losses announced in July, it would be cutting a further twenty thousand over the next two years.

The production of new planes at its plant in Seattle will go down from more than fifty a month to fewer than forty by the year two-thousand.