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Wednesday, December 16, 2020 10:54:17 AM

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"Boeing grants vested shares to some employees, halts merit pay raises"

"SEATTLE, Dec 16 (Reuters) - Boeing Co said on Wednesday it was suspending annual merit salary increases in 2021 for most employees, managers and executives, as the embattled U.S. planemaker grapples with fallout from the coronavirus pandemic and 737 MAX crisis.

Boeing also said it was awarding employees - excluding executives and tens of thousands of engineers and machinists covered by union contracts - a one-time grant of Restricted Stock Units (RSUs), determined by level.

The mixed bag of news, delivered just before the U.S. holiday break in a memo to employees from Chief Executive Dave Calhoun, caps a year in which Boeing has shed thousands of jobs and cut production as it looks ahead to a recovery still years away.

"The next chapter of our history will be built on a culture of excellence anchored by shared accountability and ownership," Calhoun told employees.

The grant, the first of its kind at Boeing in recent memory, will be awarded to about 82,000 employees and will vest three years from the grant date on Tuesday, Calhoun said."

https://finance.yahoo.com/news/boeing-grants-vested-shares-employees-153030711.html

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