By Lucas Manfredi FOXBusiness
Boeing is offering a second voluntarily layoff package to its employees as the coronavirus pandemic has forced the plane manufacturer to deepen its workforce cuts beyond its original plan of 10% in April.
BOEING: NO ORDERS, MORE CANCELLATIONS FOR GROUNDED 737 MAX
“While we have seen signs of recovery from the pandemic, our industry and our customers continue to face significant challenges. We have taken proactive steps to adjust to the market realities and position our company for the recovery,” a Boeing spokesperson told FOX Business in a statement. “As we continue to assess our workforce and in response to employee feedback, we will be offering a second voluntary layoff (VLO) opportunity for employees to depart the company voluntarily with a pay and benefits package.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | BOEING COMPANY | 169.90 | -2.12 | -1.23% |
Boeing CEO Dave Calhoun told employees Monday that the package will be offered largely to staffers in the company’s commercial airplanes unit, services division and corporate operation.
“I truly wish the current market demand could support the size of our workforce,” Calhoun said. “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 added that the company will also be “engaging in a full-scale enterprise transformation effort, evaluating every aspect of our business for opportunities to improve.”
