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 announced plans to cut 10% of its workforce, equating to 17,000 jobs, due to a "difficult position" and projected $5 billion in losses for the third quarter.
- The company will implement sweeping changes to its commercial aircraft programs, including further delaying the 777X delivery to 2026 and permanently halting 767 production in 2027.
- These structural changes and financial difficulties are taking place amidst an ongoing, month-long Machinists strike with unproductive negotiations.
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