Arconic Inc. said it expected to lose $400 million in sales and could cut jobs this year as a result of Boeing Co.’s halted production of the 737 MAX.

Chief Executive John Plant said on an investor call Monday that uncertainty over MAX production is the biggest challenge facing Arconic in 2020, complicating plans to split the Pittsburgh-based company into one business focused on aerospace parts and another focused on aluminum rolling.

Shares rose 4.7% to $30.48 in early afternoon trading after the company reported higher profit for the latest quarter compared with a year earlier.

Like Arconic, 600 major MAX suppliers and hundreds of smaller companies are weighing their ability to bear higher costs during the suspension and whether to cut expenses by laying

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