Boeing Offering Buyouts to Employees as It Adjusts to the ‘New Reality’

By Kurt Stolz on 2 April 2020
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Boeing said Thursday that it will offer its employees buyouts as it does not anticipate a fast recovery for airplane manufacturers.

“It will take time for the aerospace industry to recover from the crisis,” said the company’s CEO, Dave Calhoun, in a memorandum to all employees.  Boeing, which was founded in 1916, currently employs 161,000 people.

Boeing offered voluntary layoff packages that will offer those who opt in pay and benefits.  Calhoun said that the company was offering the packages “to reduce the need for other workforce action.”

“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 in the memo. “We will need to balance the supply and demand accordingly as the industry goes through the recovery process for years to come. It’s important we start adjusting to our new reality now.”

(Photo: Accura Media Group)

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