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:
- Facing significant financial difficulties and an expected $5 billion third-quarter loss, Boeing will cut 10% of its workforce (17,000 jobs).
- The company is implementing major changes to its commercial aircraft programs, including further delaying 777X delivery to 2026 and permanently halting 767 production in 2027.
- Boeing is also contending with an ongoing month-long Machinists strike and unproductive contract negotiations.
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