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Boeing Offering Voluntary Layoffs to Staff to Weather COVID-19 Downturn

Boeing is ready to offer buyout and early retirement packages to workers, two folks aware of the matter mentioned on Wednesday, an effort to alleviate the financial slowdown from the coronavirus pandemic.

Boeing Offering Voluntary Layoffs to Staff to Weather COVID-19 Downturn

Boeing was commissioning a voluntary layoff plan that permits eligible workers who want to exit the corporate to do so with a pay and advantages bundle, one of many people stated.

Boeing CEO Dave Calhoun is predicted to detail a voluntary layoff plan in a memo to staff as early as Thursday, the second person stated.

Boeing, which calls itself America’s biggest exporter, has around 150,000 workers worldwide, almost half of whom are clustered around marquee plants in Seattle’s Puget Sound region.

The buyout scheme comes three weeks after the U.S. plane manufacturer mentioned it would freeze hiring and overtime pay besides in sure critical areas to protect cash

The coronavirus pandemic has compounded the year-old disaster over the grounding of Boeing’s 737 MAX following deadly crashes that killed 346 people in a five-month interval.

Last week Boeing stopped operations at its twin-aisle factory and different facilities around Seattle after over a dozen staff had been contaminated – at least one fatally – by the coronavirus that causes COVID-19.

The Wall Street Journal posted earlier Wednesday that a declaration on early retirement and buyout packages may come as early as Thursday.

Boeing has called for a $60 billion bailout in access to private and non-private liquidity, along with loan ensures, for the struggling U.S. aerospace manufacturing sector.

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