'We're doing all that we can to support our customers at this time of rapid change and uncertainty,' General Electric CEO Larry Culp said after temporary cuts were made in its aviation business.
" interview. "So we're doing all that we can to support our customers at this time of rapid change and uncertainty."
GE decided to furlough half of the engine manufacturing staff in the aviation segment, which makes up more than 34% of the business, due to the ongoing impacts of COVID-19 on the airliners. Those workers will be allowed to return after four weeks.Boeing also on Thursday said it wouldto employees to mitigate the financial blow to the plane manufacturer amidst the global pandemic.
"At the same time we're doing what we need to do to address cost and cash actions so that we can weather the storm however it plays out and be ready on the other side," Culp said, "because there will be, Jim, let us never forget, there will be another side, here."VIDEO
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