Boeing Co CEO Dave Calhoun told employees on Wednesday that the largest US planemaker is reducing the size of its workforce by about 10 percent amid a steep fall in travel demand due to the coronavirus pandemic.
"We have begun taking action to lower our number of employees by roughly 10 percent through a combination of voluntary layoffs, natural turnover and involuntary layoffs as necessary," Calhoun said in an email seen by Reuters.
Boeing will need to make "even deeper reductions in areas that are most exposed to the condition of our commercial customers” more than 15 percent across our commercial airplanes and services businesses, as well as our corporate functions," he said.
Boeing has about 160,000 employees worldwide.
Frequently Asked Questions
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.
There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.
Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.