Boeing To Cut 10% Of Workforce And Halt Wide-Body Airplane Until 2026 Amid Deepening Machinist Strike
Boeing plans to reduce its workforce by 10%, amounting to 17,000 jobs, as the machinist strike extends into its fifth week, halting aircraft production. The company will also delay the launch of its 777X wide-body airplane until 2026, six years behind schedule. Boeing paused flight tests of the plane in August after discovering structural damage, and it will cease production of commercial freighters in 2027 after fulfilling current orders. Boeing has filed an unfair labor practice charge against the International Association of Machinists and Aerospace Workers, claiming bad-faith negotiations. Union leaders call for a return to bargaining as tensions rise.
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00:00It's Benzinga, and here's what's on the block.
00:02Boeing plans to reduce its workforce by 10%, amounting to 17,000 jobs, as the machinist
00:08strike extends to its fifth week halting aircraft production.
00:12The company will also delay the launch of its 777X wide-body airplane until 2026, six
00:18years behind schedule.
00:19Boeing paused test flights of the plane in August after discovering structural damage,
00:24and it will cease production of commercial freighters in 2027 after fulfilling current
00:28orders.
00:29Boeing has filed an unfair labor practice charge against the International Association
00:33of Machinists and Aerospace Workers, claiming bad-faith negotiations.
00:38Union leaders call for a return to bargaining as tensions rise.
00:41For all things money, visit Benzinga.com.