Boeing Turbulence Continues With 17K Job Cuts
Thousands of jobs are on the chopping block at Boeing. The company plans to slash 17,000 jobs, which represents 10% of its global workforce.
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00:00Thousands of jobs are on the chopping block at Boeing.
00:03The company plans to slash some 17,000 jobs, which represents 10% of its global workforce,
00:09and delay the first deliveries of its 777X jet by a year.
00:15The planemaker will also record some $5 billion in losses for the third quarter as it struggles
00:20amid a prolonged strike.
00:22CEO Kelly Ortberg informed employees that the large-scale job cuts are needed, quote,
00:28to align with our financial reality.
00:30The strike, involving 33,000 workers on the U.S. West Coast, has halted production of
00:35Boeing's 737 MAX, 767, and 777 jets.
00:41The impact of the strike and financial losses has forced Boeing to make difficult decisions,
00:46with Ortberg emphasizing that the measures are critical to the company's future stability.