Boeing To Pay Out Annual Bonuses

SEATTLE (AP) – Boeing Co. will pay out annual performance bonuses next month to most employees despite losing $12 billion over the last year during the coronavirus pandemic.

The Seattle Times reported that most employees did not receive annual bonuses last year after the company lost $636 million in 2019 because of the grounding of the 737 MAX by the Federal Aviation Administration.

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 based on profits.