Coronavirus pandemic is damaging all small and major business. General Electric Co (GE.N)’s aviation unit is planning to cut 10% of its total U.S. workforce. According to Chief Executive Officer Larry Culp GE’s Aviation airlines delay purchases due to coronavirus pandemic.
He wrote a letter to his employees and said “he would forgo his salary for the rest of 2020”. Many major aviation companies are also getting hurt due to Coronavirus pandemic. People are not allowed to travel anymore. They are told not to leave home.
The GE’s aviation unit develops engines for Boeing Co and Airbus SE planes. GE Aviation is not the only one to take this bold step. Many aviation companies are completely stopping their operations and unable to make any type of sale.
Coronavirus pandemic is damaging everyone.