Boeing offers employee buyouts in response to crisis

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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.

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