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Boeing said Thursday it will offer voluntary buyouts to its 160,000 employees as the aircraft manufacturer struggles to cut expenses amid the worldwide economic slowdown caused by the coronavirus pandemic.

Both US senators from New Hampshire — Jeanne Shaheen and Maggie Hassan — also have been mentioned, according to The New York Times.

Boeing's 737 MAX, grounded worldwide after two fatal crashes killed a total of 346 passengers and crew, isn't expected to be re-certified for commercial service until late summer or early fall, The Wall Street Journal reported. In early trading, Boeing's stock fell 2.58 percent.

Bill Beam, who farms more than 3,000 acres of corn, soybeans and wheat near Elverson, Pennsylvania, stands in his field. His family has been running the farm since 1950s. [Calvin Zhou / China Daily]

Boeing's 737 MAX is the latest update of its popular, single-aisle, twin-engine aircraft. Boeing has about 5,000 planes on back order ,selling at about 0 million each. The fuel-efficient plane has a range of 3,215 to 3,825 miles (about 5,954 to 7,084 kilometers). The aircraft is offered in four lengths and seats 138 to 230 passengers.