Economy

Boeing initiates voluntary layoffs for employees

Company outlines plan to curb financial fallout from coronavirus, eligible employees to be offered pay, benefits package

Tuba Sahin   | 03.04.2020
Boeing initiates voluntary layoffs for employees

ANKARA 

The U.S. aerospace company Boeing is launching a voluntary layoff plan as a response to market conditions struggling with coronavirus pandemic.

The company CEO said in a statement on Thursday that the plan offers eligible employees who want to exit the company pay and benefits package.

Dave Calhoun said recovery from the crisis will take time for the aerospace industry. "When the world emerges from the pandemic, the size of the commercial market and the types of products and services our customers want and need will likely be different."

The company will need to balance the supply and demand accordingly, Calhoun said.

"We want to address it through natural turnover and voluntary employment actions to the extent we responsibly can," he said.

After first appearing in Wuhan, China in December, the novel coronavirus has spread to at least 181 countries and regions.

Data compiled by U.S.-based Johns Hopkins University shows worldwide infections surpassing 1 million, with more than 53,100 deaths. Over 211,800 have recovered.

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