Boeing will lay off nearly 7,000 workers as the industry is decimated by the COVID-19 pandemic (BA)

Boeing will lay off 6,770 US employees, the company said Wednesday.
The company described the layoffs as "the first," with more expected later in the year.
Boeing has said it will need to reduce its payroll by 10%, including at least 15% in its commercial division.
This is a developing story. Check back for updates.
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Boeing said on Wednesday that it will lay off 6,770 US employees, "the first" wave of an expected round of job cuts as the coronavirus pandemic wreaks havoc on the aerospace sector.

In a statement, CEO David Calhoun said that affected employees will receive severance pay, COBRA health care coverage, and career transition services.

Employees at worksites outside of the US will also see job cuts, Calhoun said.

Boeing previously said it expects to reduce its payroll by about 10% globally, including by 15% in its commercial airplane division.

Boeing had about 143,000 workers globally at the beginning of the year. The company has seen business in its commercial airplane sector dry up as the coronavirus pandemic leads to a drop in air travel demand. Airline and airplane lessor customers have grounded significant portions of their fleets, and many are expected to defer or cancel orders for new airplanes.

This is a developing story. Check back for updates.

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