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As the market recovery accelerates, Boeing plans to lay off 10,000 employees during the worst of the coronavirus pandemic.
The American aircraft manufacturer currently has approximately 140,000 employees and hopes to maintain this level. Boeing said in October that as the Covid-19 crisis and travel restrictions have disrupted airline demand for new aircraft, it aims to reduce the number of employees from 160,000 to 130,000 through layoffs, voluntary separations and attrition.
CEO David Calhoun said in a memo to employees: “As the commercial market recovery accelerates, our defense and government services businesses are targeting growth opportunities. We increase investment to further strengthen the engineering. We now see our personnel The level of equipment is more stable.”.
He added that the pace of recovery in the commercial market, as well as trade relations with China and Boeing’s financial performance, will be the main factors determining future employment levels.
Boeing shares rose 6% in pre-market trading to $235.83.