US aircraft parts maker and Boeing supplier Triumph Group sends 2,300 employees on temporary leave for two to four weeks due to the impact of the corona crisis on the airline industry. Due to the crisis, Boeing has halted many activities and suppliers such as Triumph are suffering a lot.
These are personnel in the United States and Europe, especially in Great Britain. They will receive a week’s salary and Triumph will pay for healthcare costs. The company is also cutting two hundred full-time jobs due to weaker demand for its services and products. Triumph has more than 10,000 employees worldwide.
Last week, Boeing shut down production of the 787 Dreamliner at its facilities in the US state of South Carolina, while operations in Washington State have been temporarily suspended. The aircraft manufacturer has asked the US government for billions of dollars of support for the airline industry to get through the crisis.
Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.