Co said on Monday it would offer employees a voluntary layoff package with pay and benefits for the second time this year, as the planemaker battles a coronavirus-induced slowdown in global air travel.
"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," Calhoun said in the note.The health crisis, which has hammered planemakers, airlines and suppliers, has added to the woes of Boeing that has been grappling with a production freeze and year-long grounding of the 737 MAX following two fatal crashes.
The move to extend the overall workforce reductions beyond the initial 10% target is in response to employee feedback, Calhoun said.
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