Boeing to Offer Voluntary Layoffs to Employees

Boeing to Offer Voluntary Layoffs to Employees to Tide Over Coronavirus Fallout -Sources (excerpt)

By Eric M. Johnson, Shubham Kalia

SEATTLE --- Boeing Co is set to offer buyout and early retirement packages to employees, two people familiar with the matter said on Wednesday, a bid to mitigate the financial fallout from the coronavirus pandemic.

Boeing was initiating a voluntary layoff plan that allows eligible employees who want to exit the company to do so with a pay and benefits package, one of the people said.

Boeing Chief Executive Dave Calhoun is expected to detail a voluntary layoff plan in a memo to employees as early as Thursday, the second person said.

Reuters reported last month, citing industry sources, that layoffs or furloughs were a “real possibility” as deferred aircraft deliveries and down-payments due to a virus-related plunge in air travel forced Boeing to consider tougher steps to reduce cash outflow.

A representative for Boeing declined to comment. (end of excerpt)

Click here for the full story, on the Reuters website.

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