Boeing is seeking to cut roughly 10% of its workforce, or 16,000 employees, from its payroll through voluntary measures and"involuntary layoffs as necessary" as the COVID-19 pandemic delivers a"body blow" to its business, Boeing CEO Dave Calhoun said in an internal memo to employees.
Boeing, which had already been struggling with financial issues related to the grounding of the 737 Max, reported a $641 million loss in the first quarter. "Most of our work now is all about documentation," Calhoun said."It's been that way for quite some time, and the documentation effort is a mountain of work to do."
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