The aerospace company said it was always the intention to cut its workforce once aircraft programs “stabilised at full production rates.”

“In line with a long established financial forecast, we will be releasing up to 300 people, primarily fixed-term contractors, by the end of the year,” Boeing said in a statement issued on Wednesday night.

“Reducing employment on these programs is a natural part of the manufacturing cycle.

“However, we will work to minimise the overall number through natural attrition and by not filling open positions.”

Boeing said it would continue to hire to meet delivery commitments, and it was “taking steps to make existing contractors full-time employees where possible.”

According to its website, Boeing Aerostructures Australia employs 1300 people at its Melbourne site, in design, test, certification and manufacture of advanced structures for commercial airplanes.