Boeing, which entered the COVID-19 crisis on weak footing due to the ongoing 737 Max disaster, lost $2.4 billion in the second quarter and has cut production rates in a bid to reduce costs.
Boeing plans to conduct a second round of buyout offers for employees, as it seeks to reduce its workforce and cut costs.Boeing held a round of “voluntary layoffs” earlier this year, followed by involuntary layoffs in May, part of an effort to cut about 16,000 jobs.As demand for air travel has fallen during the coronavirus pandemic, airlines have cancelled orders, deferred new aircraft deliveries, and postponed placing new orders.Visit Business Insider’s homepage for more stories.
Boeing plans to offer a new round of buyout packages for employees, the second time the struggling planemaker has tried to cut its workforce through voluntary measures in 2020.The “voluntary layoff” will be targeted primarily at workers in Boeing’s commercial division, according to Bloomberg, as well as its global services division and corporate offices. More details on the voluntary layoff packages will be released next week, Bloomberg reported, citing an internal email from CEO Dave Calhoun.Boeing, along with European rival planemaker Airbus, has seen customer demand for new aircraft plummet as the coronavirus pandemic has swept around the globe. Crate
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