Boeing, the aerospace giant, is facing significant challenges as it plans to lay off about 10% of its workforce, totaling around 17,000 employees. The company, which has already lost over $25 billion since 2019, is also dealing with a strike by union machinists and delays in the rollout of new planes.
New CEO Kelly Ortberg announced the job cuts and mentioned that they will include executives, managers, and employees. The layoffs come as Boeing struggles to cope with financial losses and production disruptions caused by the ongoing strike. Additionally, the company will delay the release of its new plane, the 777X, to 2026 and cease production of the cargo version of its 767 jet in 2027.
As Boeing works through these challenges, Ortberg emphasized the need for tough decisions and structural changes to ensure long-term competitiveness. With the aerospace industry facing scrutiny and challenges, the company remains focused on delivering for its customers while navigating a turbulent period under new leadership.
(This summary is based on a syndicated news agency feed from the Associated Press and has not been edited by News18 staff.)
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