Boeing will cut 10 percent of workforce, says federal support “critical”

Found on Ars Technica on Thursday, 30 April 2020
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Boeing released its financial results for the first quarter of 2020, and as one might expect for a company that manufactures aircraft amid the COVID-19 pandemic, the numbers were not good.

During his call, Calhoun noted that 26 countries have announced support packages worth more than $100 billion, specifically targeting the aerospace and airline industries. The aerospace industry, he said, supports 3.6 percent of the global GDP and 65 million jobs worldwide.

"We continue to evaluate options in the capital markets as well a funding options via the US Treasury and various Federal Reserve programs."

Funny how suddenly all the big players call for support from the government as soon as a crises threatens them.