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Boeing giving employee bonuses despite losing $12B last year
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Boeing Co. has said it will dole out annual performance bonuses next month to most employees despite losing $12 billion over the last year during the coronavirus pandemic.
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Most of the company’s employees did not receive annual bonuses last year after it lost $636 million in 2019 because of the grounding of the 737 MAX by the Federal Aviation Administration, The Seattle Times reported.
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In response, the company in February changed the structure of its incentive plan, tying its financial goals to the timing of the first delivery of a 737 MAX after its ungrounding. The company’s bonuses were previously paid out based on profits.
Boeing CEO Dave Calhoun told employees on Thursday that the company’s board of directors “recognizes the important strides the team has made.”