Boeing is extending its voluntary redundancy package, on top of the 16,000 positions it previously announced it would eliminate.
A new round of buyouts will be offered to employees next week. The voluntary layoffs will be offered to people in three sectors – commercial airplanes, the services division and in its corporate offices.
“The pandemic has been tough on our people, our business and our industry. While there have been some signs of recovery, the reality is we’re in a challenging position,” said CEO Dave Calhoun in a message to Boeing employees on Monday. “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,” Calhoun said.
“Importantly, it also will help limit additional involuntary workforce actions,” Calhoun added. “I truly wish the current market demand could support the size of our workforce. Unfortunately, layoffs are a hard but necessary step to align to our new reality. We anticipate seeing a significantly smaller marketplace over the next three years.”
Apart from the continued grounding of the Max 737 aircraft, the company has been hit by many canceled orders as airlines struggle due to the plunge in demand for air travel during the Covid-19 pandemic. It was in April that it said that it would cut 10% of its global staff of 160,000 employees.
Last month, Boeing announced that it would produce planes at a slower rate than previously expected for years to come. It will also stop building the 747 when current orders for the freighter version of the plane run out in 2022.
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