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GE Aviation and Boeing Announce Job Cuts

GE Aviation announced it would furlough 50 percent of its engine-making workers for four weeks. The move comes less than two weeks after GE announced it would cut all workers in the division by 10 percent March 23.  In addition, 50 percent of GE Aviation’s maintenance, repair, and overhaul employees are going through a 90-day “lack of work period.”

Boeing will be offering voluntary buyouts to its employees after it closed factories in March as part of its response to the COVID-19 pandemic.  The company is hoping to start an overnight production shift April 7 if the situation on the West Coast stabilizes.  CEO Dave Calhoun said he expects the re-emerging market for air travel to change and that Boeing will have to adapt to these changes.  “We will need to balance the supply and demand accordingly as the industry goes through the recovery process for years to come,” Calhoun wrote. “It’s important we start adjusting to our new reality now.”