New York (CNN Business) Boeing is offering employees buyouts as its CEO said it will take years for the airlines and aerospace industry to recover from the coronavirus crisis.

In a memo to employees, Boeing CEO Dave Calhoun said the company is offering voluntary layoff packages that will provide exiting employees with pay and benefits. Calhoun said the company is doing so "to reduce the need for other workforce actions."

Boeing had 161,000 employees at the start of this year, with about a third of them represented by unions.

The aircraft maker has been hit hard by the coronavirus . Airlines around the globe have seen their revenue virtually disappear and are taking steps to cut capital spending, including aircraft purchases.

"One thing is already clear: It will take time for the aerospace industry to recover from the crisis," Calhoun said in the memo.