President Donald Trump said Friday that the U.S. 'can't let anything happen to Boeing.'
Boeing 737 MAX airplanes are stored on employee parking lots near Boeing Field, on June 27, 2019 in Seattle, Washington.President Trump said his administration would take action to help Boeing if company executives request assistance in coping with the financial downturn caused by the worldwide COVID-19 pandemic.
The Treasury Department set aside up to $17 billion in aid for Boeing as part of the airline industry rescue package lawmakers included in the CARES Act, the $2 trillion stimulus legislation that Trump recently signed into law. But the aerospace giant has not yet formally requested any of the aid available to it, and according to reports, is still considering laying off up to 10 percent of its workforce due to the downturn caused by the coronavirus-related recession.
"When they see us, making sure that Boeing is strong again is very very powerful and very important, and we'll do whatever is necessary to do," he added.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Boeing considering 10% payroll cut after coronavirus pandemic shuts down plane manufacturingNo decision has been reached yet but the final reduction would likely include voluntary layoffs, early retirements, natural attrition and potentially mandatory layoffs.
Read more »
Boeing considers potential 10% cut to workforce: WSJBoeing Co is considering a plan to cut its workforce by about 10%, which could involve buyouts, early retirements and involuntary layoffs, the Wall Street Journal reported on Thursday.
Read more »
Trump tells religious leaders: 'We're going to beat this plague'President Trump told religious leaders that 'we have a tremendous year coming up' and that the U.S. would beat coronavirus 'soon,' while seeming to implore people of faith to support him in his re-election.
Read more »
Tom Brady Reveals Donald Trump Asked Him to Speak at 2016 Republican National ConventionThe NFL star opened up about how politics affected his 'friendship' with Donald Trump
Read more »