Connect with us

Breaking News

Boeing Deepens Workforce Cuts; Offers Second Voluntary Layoff Package

Published

on

Boeing Logo at Boeing HorizonX | Americans Filing for Unemployment Falls Below 1 Million for the First Time Since Start of the Pandemic | Featured

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.

“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.”

Boeing 521 427
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.”

Up Next:

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2022 Breaking News Alerts. This copyrighted material may not be republished without express permission. The information presented here is for general educational purposes only. MATERIAL CONNECTION DISCLOSURE: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this page and may receive commissions from purchases you make on subsequent web sites. You should not rely solely on information contained in this email to evaluate the product or service being endorsed. Always exercise due diligence before purchasing any product or service. This website contains advertisements.