Report: Boeing may cull workforce by 10 percent due to COVID-19

-

The US planemaker may announce early retirement and involuntary layoffs for staff as demand plunges due to the virus.

Boeing CEO Dave Calhoun has warned that the pandemic would have a lasting effect on the aerospace industry [File: David Ryder/Getty Images]
Boeing CEO Dave Calhoun has warned that the pandemic would have a lasting effect on the aerospace industry
Boeing Co is considering a plan to cut its workforce by about 10 percent, which could involve buyouts, early retirements and involuntary layoffs at the United States-based planemaker, the Wall Street Journal newspaper reported.
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 on Thursday said.
Boeing declined a request by Reuters news agency for comment.
Amid the coronavirus pandemic, Boeing has been suspending production at various plants, including the manufacturing of its 787 aircraft at its facilities in South Carolina.
Last week, Boeing's Chief Executive Officer Dave Calhoun outlined a plan of voluntary layoffs for employees, while warning that the pandemic would have a lasting effect on the aerospace industry.
The company had earlier frozen hiring and overtime pay except in certain critical areas to preserve cash.
Boeing has also been grappling with the financial fallout due to the grounding and production halt of its 737 MAX aircraft after two fatal crashes that killed 346 people. The 737 MAX has been grounded since March 2019 and Boeing halted its production in January.
Its European rival Airbus has also warned that it would miss earnings estimates after recording no new orders in February as demand for its planes plunged due to widespread travel restrictions to curb the spread of the coronavirus.

Comments

Post a Comment

Popular posts from this blog

Petitioner-SARS officers threw me from two-storey building, broke my backbone

-
Image
A 34 year old general merchant, Mr Ndukwe Ekekwe, Tuesday, told the Lagos State Judicial Panel of Enquiry and Restitution for Victims of Special Ant-Robbery Squad (SARS) related abuses and other matters, that he broke his backbone after SAR officers threw him down from a two-storey building which resulted in him being confined in a wheelchair. Ekekwe told the panel that on February 16, 2018, he was at his shop at Alaba Rago, in Alaba International market, when he was arrested, by men of SARS, who handcuffed him. When he asked them to show their identification card, and that he wanted to know his offence, they started shooting and told him that the order was from the Inspector General (IG)of Police. The petitioner, who said he sells phone accessories and other things, said when he was arrested, he was trying to raise alarm, so that other people can see what was happening. The SARS operatives then called one Haruna Amaz and he told them to keep me busy. That was when they pushed me upsta
Read more

What COVID-19 reveals about educational inequality in Ghana

-
Image
The coronavirus pandemic has exposed stark inequalities in Ghana's educational system. Pupils gather around their teacher in class in Prestea, a mining town in southwest Ghana  Kwabena Opoku-Agyemang, a lecturer at the University of Ghana, is looking for new ways to carry on teaching his students. He has no other choice. Ever since Ghanaian President Nana Akufo-Addo ordered last month the indefinite closure of all schools to curb the spread of the new coronavirus, many of the country's higher educational institutions began exploring options in online learning. "I plan to use WhatsApp and Zoom to make the classes more interactive," said Opoku-Agyemang, who teaches literature courses at the Accra-based university's Department of English. "I will also be having guest artists and guest lecturers join in. The artists will use Instagram Live, while the guest lecturers will probably use Zoom." Yet, it won't
Read more