Boeing's end-of-year financial report

Boeing to Cut 17,000 Jobs, 10% of Workforce, Delay 777X Delivery to 2026 Amid Ongoing Strike

Oct 11, 2024, 09:37 PM

Boeing has announced plans to cut approximately 17,000 jobs, representing about 10% of its global workforce, as the company grapples with significant financial losses exacerbated by an ongoing machinist strike. The strike, which has entered its fifth week, has severely impacted production capabilities, including the halt of key aircraft models like the 737 MAX. Additionally, Boeing will delay the first delivery of its new 777X jet by a year, pushing it to 2026, and will cease production of the 767 freighter by 2027. CEO Kelly Ortberg indicated that these layoffs are part of a broader strategy to address the company's financial challenges and reset priorities for future competitiveness. The company is also projecting substantial losses in its defense sector as it navigates these operational difficulties.