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Boeing’s board was in Chicago on Monday for a scheduled meeting, and is consulting with senior leaders at the company before they make a final decision, according to four people with knowledge of the deliberations. An announcement is likely to be made Monday afternoon or Tuesday morning, the people said, asking not to be identified because the discussions were still private.

Though no decision had been made as of Monday morning, one person familiar with the matter said the most likely scenario was that Boeing would pause production of the Max for an initial 60-day period.

Should Boeing follow that plan, the company intends to redeploy the thousands of workers building the Max to other projects, avoiding layoffs or furloughs for now, another person familiar with the matter said.

Boeing is also trying to figure out how it would handle the disruption to suppliers. Though it may provide support to some, others are likely to endure significant financial pain if Boeing stops accepting parts for a period of months. Shares of Spirit AeroSystems, which makes the fuselage of the Max, were down about 4 percent in early trading on Monday. Boeing’s shares were down more than 3 percent.

There is still a chance that Boeing could further reduce the rate of production, instead of shutting down the factory. In April, the company said it would reduce the number of 737 planes it produced each month to 42 from 52. A further reduction would keep the line operational, avoiding the complex process of restarting it months from now.