Boeing said Friday that it plans to cut 10 percent of its workforce.
The financially ailing aerospace giant also announced sweeping changes to its commercial aircraft programs, including the 767 and previously-delayed 777X.
Boeing Cuts 10 Percent of Workforce, Delays 777X Program
Beleaguered aerospace manufacturer expects to report $5 billion in losses for the third quarter.
Key Takeaways:
- Boeing plans to cut 10% of its workforce, equating to 17,000 jobs, and expects a $5 billion loss for the third quarter, signaling significant financial difficulties.
- The company is implementing sweeping changes to its commercial aircraft programs, including further delaying the 777X delivery to 2026 and permanently halting 767 production in 2027.
- Boeing continues to grapple with an ongoing Machinists strike and its CEO emphasized the need for tough structural changes to ensure long-term competitiveness and recovery.
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