After already laying off more than 5,500 employees through a voluntary program, Boeing announced today that another 6,770 will be released involuntarily as the planemaker contends with declining demand amid the ongoing coronavirus crisis.
More layoffs are expected as CNBC reports the manufacturer wants to reduce its workforce by 10%. Boeing employed 160,000, according to the company’s 2019 annual report.
Boeing said nearly 7,000 of its U.S. employees will be involuntarily laid off.
It’s part of the aerospace giant’s plan to shrink its overall workforce by 10% amid the new aviation landscape created by #Covid19 https://t.co/XUiyhRvuHf
— POLITICO (@politico) May 27, 2020
Boeing had already been under pressure because of the two 737 Max crashes which grounded the planes worldwide. Boeing generated $25 billion in debt sales last month, without accepting federal aid, in an effort to survive the crisis.
