Boeing today offered a voluntary layoff (VLO) plan to its employees to tide over the Boeing 737 fiasco and the current coronavirus crisis.
The (VLO) plan that allows eligible employees who want to exit the company to do so with a pay and benefits package. This move aims to reduce the need for other workforce actions, Boeing President and CEO Dave Calhoun said in a statement.
He predicted when then the world emerges from the pandemic, the size of the commercial market and the types of products and services our customers want and need will likely be different. "We will need to balance the supply and demand accordingly as the industry goes through the recovery process for years to come."
"More information on the VLO benefits, who is eligible and how the program works will be on its way to you in three to four weeks," Calhoun said.