Another company deep in aviation has announced cutbacks. This week Boeing will shutter its Puget Sound facilities for at least two weeks, and now GE says it will lay off 2,600 employees for at least 90 days due to declining aviation markets. In a related move, GE says it will increase production of ventilators and other medical equipment likely to be needed to combat COVID-19. The furloughs affect about half of the aviation division’s maintenance, repair and overhaul personnel.
“The aviation industry is feeling the impact of this global pandemic most acutely. The rapid contraction of air travel has resulted in a significant reduction in demand as commercial airlines suspend routes and ground large percentages of their fleets. As a result, GE Aviation is announcing several steps that, while painful, preserve our ability to adapt as the environment continues to evolve,” GE CEO Lawrence Culp said.