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 (17,000 jobs) and expects to report $5 billion in losses for the third quarter, signaling significant financial distress.
- The company is making sweeping changes to its commercial aircraft programs, including further delaying the 777X delivery to 2026 and permanently halting 767 production in 2027.
- These tough decisions come as Boeing faces a month-long Machinists strike and aims to make structural changes to restore competitiveness and long-term viability.
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