Boeing to Cut 17,000 Jobs, Delay 777X Delivery to 2026 Amid Strike

Oct 11, 2024, 09:10 PM

Boeing announced it will cut approximately 17,000 jobs, representing 10% of its global workforce, as it grapples with financial challenges and an ongoing machinist strike that has entered its fifth week. The company also revealed plans to delay the first delivery of its 777X jet to 2026 and end the production of its 767 freighter in 2027. CEO Kelly Ortberg cited substantial losses in Boeing's defense sector and a worsening cash crunch due to the month-long strike that has halted production of key models like the 737 MAX. These measures are part of Boeing's efforts to reset priorities and remain competitive in the long term. Boeing's stock was down 2.05% in after-hours trading.