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Boeing CEO Predicts Smaller Marketplace Over Next Three Years

By John F. Heerdink, Jr.

Reportedly, Boeing Co (BA) offers a voluntary layoff package to its employees for the second time this year, as the travel industry faces low air travel demand amid the pandemic in addition to Boeing’s existing woes of year-long grounding of the 737 MAX and production freeze following two fatal crashes. Lay off will be offered to employees in the commercial airplanes and services units as well as corporate functions, as reported.

“Unfortunately, layoffs are a hard but necessary step to align to our new reality, preserve liquidity and position ourselves for the eventual return to growth,” stated Chief Executive Officer Dave Calhoun,“We anticipate seeing a significantly smaller marketplace over the next three years.”

Dow 30 component Boeing (NYSE: BA) is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. To learn more about Boeing (BA) and to track its ongoing progress please visit the Vista Partners Boeing (BA) Coverage Page.

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(Read Original Story: Boeing to offer second layoff plan, CEO Calhoun sees smaller market ahead in Reuters)


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