Boeing announced Tuesday that the company will cut 4,000 jobs, and more may be on the way.

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The Seattle Times reports that Boeing intends to eliminate the 4,000 jobs by June. The Times further reports that the 4,000 may only be halfway towards the total number of jobs the company wants to do away with in 2016.

Boeing told the Times that the job cuts will be through regular attrition and voluntary buyouts for about 1,600 employees. It also said that many of the jobs are “hundreds of executives and managers.” Layoffs could be an option if enough jobs are not shed through initial methods.

The Times reports that one division based in the Puget Sound area – the Test & Evaluation division that conducts flight, ground and lab tests – will cut about 10 percent of its workforce.

In a statement released Tuesday, Boeing said the following:

We continue to follow our plan announced last month to make fundamental changes for the long term to win in the market, fund our growth and operate as a healthy business.

That involves a combination of non-labor cost savings, supply chain savings, and reduced staffing levels. While there is no employment reduction target, the more we can control costs as a whole — the less impact there will be to employment.

Staffing reductions through mid-year, including hundreds of executives and managers, are projected to total approximately 4,000 positions — none of which involve involuntary layoffs. We’ve been able to reduce staffing levels through attrition, leaving open positions unfilled, and voluntary layoffs. We’ll only use involuntary layoffs as a last resort.