Boeing Considers Potential 10 Percent Cut to Workforce: WSJ

The Boeing logo is displayed on a screen at the New York Stock Exchange (NYSE) in New York City, on Aug. 7, 2019. (Brendan McDermid/Reuters)

Reuters—Boeing Co is considering a plan to cut its workforce by about 10 percent, which could involve buyouts, early retirements and involuntary layoffs, the Wall Street Journal reported on Thursday.

The potential job cuts are expected to largely target Boeing’s commercial arm, which has been under strain due to the crisis in the global airline industry, the report said.

The planemaker declined to a Reuters request for comment.

A view of an empty restaurant is seen at Grand Central Station on in New York City on March 25, 2020. (Angela Weiss/AFP via Getty Images)

Amid the pandemic caused by the CCP (Chinese Communist Party) virus, commonly known as novel coronavirus, Boeing has been suspending production at various plants, including the manufacturing of its 787 airplane at its facilities in South Carolina.

Last week, the U.S. plane-maker’s Chief Executive Officer Dave Calhoun outlined a plan of voluntary layoffs for employees, while warning that the pandemic would have a lasting impact on the aerospace industry.

The company had earlier frozen hiring and overtime pay except in certain critical areas to preserve cash.

By Maria Ponnezhath

Epoch Times staff contributed to this report