Boeing is offering buyout and early retirement packages as it works to combat COVID-19 impact: reports – MarketWatch

Posted: April 6, 2020 at 5:56 pm


without comments

Boeing Co. BA, +19.47% is offering buyout and early retirement packages to employees as it works to combat the impact on its business of the coronavirus that causes COVID-19 that has grounded airlines around the world and decreased demand for new planes, according to media reports Thursday. The aerospace giant announced the plan in a memo to employees from Chief Executive Dave Calhoun, according to CNBC. "It's important we start adjusting to our new reality now," he wrote, said the CNBC report. Boeing has about 151,000 employees, roughly half of whom are based around Seattle's Puget Sound region. The company has called on the federal government to bail it out with a $60 billion package. The company was struggling before the virus outbreak with the fallout from the grounding of its 737 Max fleet, following two fatal crashes. Job cuts may complicate the company's efforts to get bailout money, however. Boeing shares were up 2.6% premarket but have fallen 60% in 2020 to date, while the Dow Jones Industrial Average DJIA, +7.73% has fallen 27% and the S&P 500 SPX, +7.03% has fallen 24%.

Read more:
Boeing is offering buyout and early retirement packages as it works to combat COVID-19 impact: reports - MarketWatch

Related Post

Written by admin |

April 6th, 2020 at 5:56 pm

Posted in Retirement