Boeing says it’s offering buyouts to employees in response to the growing coronavirus pandemic.
In a letter to workers sent Thursday, the aerospace company said eligible employees who accept the buyout will do so with a pay and benefits package. Details of the package were not revealed.
Dave Calhoun, Boeing president and CEO, said in the letter the pandemic will likely reshape its business and the aerospace industry.
“It’s important we start adjusting to our new reality now,” said Calhoun.
Boeing said employees will receive information on the program in three to four weeks.
Last month, Calhoun and company chairman Larry Kellner said they would forego their pay through the end of the year as part of a plan to weather the crisis. Boeing is also suspending its dividend.
Coronavirus and the economy:A record 6.6M Americans file for unemployment benefits
Kids bouncing off the walls?:Bounce house, trampoline, outdoor toy sales jump
Boeing may receive up to $17 billion from the federal government’s $2 trillion stimulus package to stabilize its battered business after lawmakers included a provision in the law that is viewed as a way to potentially rescue Boeing.
Boeing had earlier requested $60 billion in federal assistance to help during the pandemic, prompting former U.S. ambassador to the U.N. Nikki Haley to resign from the company’s board last month.
Boeing’s buyout plan is the latest response from top companies as they navigate this unprecedented crisis. Macy’s, J.C. Penney and The Cheesecake Factory plan to furlough thousands of workers as stores and restaurants remain closed due to the spreading pandemic.
Follow Brett Molina on Twitter: @brettmolina23.