Boeing Buyouts
Boeing offers voluntary buyouts to employees in its space division, LA Times
“Boeing Co.’s sprawling satellite-making operation in Southern California has just concluded a round of voluntary buyouts in an effort to slash its workforce by 250 to 300 employees. The Chicago-based company said the reduction in its 5,500-employee workforce is necessary because of changes in the way it designs and builds satellites — not because of a lack of orders or cutbacks in federal spending.”
“Boeing said it had received a sufficient number of volunteers during the two-week period that ended Friday, so involuntary layoffs are unlikely.“
This sentence takes the sting out of the situation. I wished things could work out this way more often. Although, as usual, I have to wonder how much irreplaceable expertise and experience is going out the door for ever with these people.