Boeing announced on Wednesday that it intends to cut commercial aircraft production rates and reduce its workforce by around 10 percent. The announcement came alongside the publication of Boeing’s first-quarter financial data, which showed a Q1 net loss of $641 million. According to Boeing, the staff cuts will be accomplished through “a combination of voluntary layoffs (VLO), natural turnover and involuntary layoffs as necessary.” The company says it will offer severance pay, COBRA health care coverage and career transition services to individuals affected by the involuntary layoffs.
This is a companion discussion topic for the original entry at https://www.avweb.com/recent-updates/business-military/boeing-to-cut-workforce-reduce-production