Boeing aims to cut 10% of its workforce

According to a report from the Wall Street Journal, Boeing Co is weighing its options on a job cut, which could involve early retirements and involuntary layoffs and could also involve buyouts.

Boeing’s aims to cut its workforce by 10%.

The potential job cuts are largely targeted at Boeing’s commercial arm, which has been under heavy strain because of the coronavirus crisis, which has brought global travel to a near standstill.

Boeing did not respond to requests for comment.

Following the coronavirus pandemic, Boeing has suspended production at various plants, including at its manufacturing facilities which produce 787 models in South Carolina.

Last week, Boeing’s Chief Executive Officer Dave Calhoun outlined a plan of voluntary layoffs for employees, while warning that the coronavirus pandemic is likely to have a lasting impact on the aerospace industry.

In order to preserve cash, Boeing had frozen hiring and overtime pay, other than in certain critical areas.



Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

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