Boeing considers 10% cut to workforce

Boeing is considering a plan to reduce its workforce by about 10%, people familiar with the matter said, as the aerospace giant grapples with the fallout from the coronavirus pandemic. The plan could involve buyouts, early retirements and involuntary layoffs. The potential labour cuts at the aerospace giant, which globally employs about 160,000 people, were expected to largely target Boeing’s commercial arm, these people said. The unit is under tremendous strain due to turmoil in the global airline industry. No decision on cuts was imminent, one of the people briefed on the matter said, and the potential 10% reduction was among scenarios under consideration. Boeing is aiming to shrink its workforce through buyouts and attrition before turning to involuntary layoffs, this person said. It wasn’t immediately clear how any cuts would affect Boeing’s defense and services arms. Last week, the plane maker announced it would offer voluntary layoff packages, but hasn’t released details, including how many employees would be eligible. Boeing has said it expected several thousand employees to take advantage of the offer.<br/>