Boeing to Offer Second Layoff Plan, Sees Smaller Market Ahead

Boeing to Offer Second Layoff Plan, CEO Calhoun Sees Smaller Market Ahead (excerpt)

Boeing Co said on Monday it would offer employees a voluntary layoff package with pay and benefits for the second time this year, as the plane-maker battles a coronavirus-induced slowdown in global air travel.

It will be offered to employees in the commercial airplanes and services businesses as well as corporate functions, Chief Executive Officer Dave Calhoun wrote in a note to employees, a copy of which was seen by Reuters.

“Unfortunately, layoffs are a hard but necessary step to align to our new reality, preserve liquidity and position ourselves for the eventual return to growth,” Calhoun said in the note.

“We anticipate seeing a significantly smaller marketplace over the next three years.” (end of excerpt)

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

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