Boeing unveiled a voluntary worker layoff programme on Thursday, telling employees that it hoped to avoid “other workforce actions” as the aviation industry reels from the coronavirus crisis.
The initiative was announced by Boeing Chief Executive David Calhoun, who said such belt-tightening was needed amid the hit to the industry caused by the pandemic. “It’s important that we start adjusting to our new reality now,” he said.
Boeing’s financial picture was already a bit cloudy prior to the coronavirus outbreak because of the crisis surrounding the 737 MAX, which has been grounded for more than a year following two fatal crashes. But the COVID-19 crisis has made Boeing’s situation significantly worse, grounding most commercial airline travel and putting major carriers in a life-or-death fight to go forward.
