Boeing to offer voluntary layoffs to employees to tide over coronavirus fallout

April 2, 2020
"We're in uncharted waters," Boeing CEO Dave Calhoun says, reports Reuters.

SEATTLE - Boeing Co. Chief Executive Officer Dave Calhoun outlined a plan of voluntary layoffs for employees on Thursday, while warning that the coronavirus pandemic would have a lasting impact on the global aerospace industry. Under the plan, eligible employees who want to exit the company will be offered pay and benefits package, Calhoun said in a memo., report By Eric M. Johnson and Shubham Kalia for ReutersContinue reading original article.

The Intelligent Aerospace take:

April 2, 2020 - It will take time for the aerospace industry to recover from the crisis," Calhoun said in a memo. "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. We will need to balance the supply and demand accordingly as the industry goes through the recovery process for years to come."

Calhoun continues, "We'll continue to deliver on commercial, defense and space, and services programs. We'll continue to drive the safe return to service of the 737 MAX. We'll continue to keep programs going wherever we can do so virtually and with confidence that we can keep you safe and healthy. And I will continue to be supremely confident that Boeing will not just emerge from the crisis but thrive again as the leader of our industry."

Related: General Electric aviation workers launch protest, demand to make ventilators

Related: Boeing forecasts $8.7 trillion aerospace and defense market through 2028

Related: Airbus to pause majority of production in Spain until April 9

Jamie Whitney, Associate Editor
Intelligent Aerospace

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