logo
Plus   Neg
Share
Email

Boeing Offers Employees Voluntary Layoffs Amid COVID-19 Pandemic

Boeing Co. (BA) is offering buyouts to its workers in an effort to lower workforce, as the aerospace industry has been heavily impacted by the coronavirus pandemic.

Boeing CEO Dave Calhoun told the company's employees that it is starting a "voluntary layoff plan" that will allow eligible workers to leave the company with a pay and benefits package.

"When the world emerges from the pandemic, the size of the commercial market and the types of products and services our customers want and need will likely be different," he said. "It's important we start adjusting to our new reality now," Calhoun said.

In a statement, Calhoun said the program "aims to reduce the need for other workforce actions." Meanwhile, the company did not reveal how many buyouts the company is expected.

"We're in uncharted waters. We're taking actions — including offering this VLO plan — based on what we know today. They will bridge us to recovery as long as we're not confronted with more unexpected challenges. I can't predict with certainty what the next few months will bring, but I can commit to being honest about what's happening and doing everything we can to protect our people and our business through this crisis" Calhoun said.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
JetBlue Airways said it will continue to block middle seats in rows where passengers are not traveling together through the July 4 holiday. JetBue will block middle seats on its Airbus aircraft, while it will block aisle seats on its smaller Embraer 190 aircraft. Customers traveling together will be allowed to sit in the middle and aisle seats. The U.S. Food and Drug Administration or FDA announced on its website that New Hoque and Sons, Inc. is recalling Radhuni Curry Powder distributed in New York City, New York due to potential Salmonella contamination. The recall was made after it was found that the finished products contained several strains of Salmonella, the company said. General Motors is reopening its plants in Mexico after it received approval from the Mexican government to restart operations in the country, according to reports. The automaker had suspended its operations in Mexico in the third week of March due to the coronavirus pandemic. GM's Mexican manufacturing facilities are important as they supply critical parts for its plants in the U.S.
Follow RTT