Boeing plans a second wave of layoffs.

The jet maker will set out a voluntary package with pay and benefits.

It will be offered to employees in the commercial airplanes and services units, as well as in corporate functions.

In a memo seen by Reuters Chief Executive Dave Calhoun said the cuts were ‘hard but necessary’.

He says they will help the firm preserve liquidity and position itself for a return to growth.

The cuts come after the global health crisis hammered demand for air travel.

As a result, airlines around the world have been cutting their fleets, not ordering new planes.

Boeing has also been grappling with the prolonged grounding of its best-selling 737 MAX jets, following two fatal crashes.

Now Calhoun says the company anticipates a significantly smaller market over the next three years.

It does’t have a target though for how many workers should take the new layoff packages.

Back in April Boeing said it would cut about 10 percent of its 160,000-person workforce.

It aims to complete many of those cuts by the end of the year.

The company says more details of the new layoffs will be given to employees beginning August 24.