SEATTLE --- Boeing Co is set to offer buyout and early retirement packages to employees, two people familiar with the matter said on Wednesday, a bid to mitigate the financial fallout from the coronavirus pandemic.
Boeing was initiating a voluntary layoff plan that allows eligible employees who want to exit the company to do so with a pay and benefits package, one of the people said.
Boeing Chief Executive Dave Calhoun is expected to detail a voluntary layoff plan in a memo to employees as early as Thursday, the second person said.
Reuters reported last month, citing industry sources, that layoffs or furloughs were a “real possibility” as deferred aircraft deliveries and down-payments due to a virus-related plunge in air travel forced Boeing to consider tougher steps to reduce cash outflow.
A representative for Boeing declined to comment. (end of excerpt)
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