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Boeing plans second volunteer layoff package to employees amid Covid crisis

"Unfortunately, layoffs are a hard but necessary step to align to our new reality, preserve liquidity and position ourselves for the eventual return to growth," the CEO says

Boeing to freeze hiring, overtime due to 737 MAX, virus impacts
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The health crisis, which has hammered planemakers, airlines and suppliers, has added to the woes of Boeing that has been grappling with a production freeze and year-long grounding of the 737 MAX following two fatal crashes.

Bhargav Acharya | Reuters
Boeing Co said on Monday it would offer employees a voluntary layoff package with pay and benefits for the second time this year, as the planemaker battles a coronavirus-induced slowdown in global air travel.

It will be offered to employees in the commercial airplanes and services businesses as well as corporate functions, Chief Executive Officer Dave Calhoun wrote in a note to employees, a copy of which was seen by Reuters.

"Unfortunately, layoffs are a hard but necessary step to align to our new reality, preserve liquidity and position ourselves for the eventual return to growth," Calhoun said in the note.

"We anticipate

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First Published: Aug 18 2020 | 9:16 AM IST

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