Boeing offers its second voluntary layoff package to its employees amid the COVID-19 pandemic.
The coronavirus has forced the company to further cut its workforce beyond its original plan of 10% in April.
“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,” said a Boeing spokesperson to Fox Business.
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“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.”
According to Boeing CEO Dave Calhoun, the package will be offered largely to staffers in the company’s commercial airplanes unit, services division, and corporate operation – as reported by Fox Business.
In a letter to Boeing employees on Monday, Calhoun said: “This action will extend our overall workforce reductions beyond the initial 10% target and will allow more employees who want to depart the company to do so voluntarily with a pay and benefits package. Importantly, it also will help limit additional involuntary workforce actions.”
“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.”