Boeing, the American multinational company that designs, manufactures, and sells airplanes, rockets, satellites, and security systems, has announced plans to lay off 17,000 employees, which amounts to 10% of its global workforce, in a cost-cutting initiative as the company plans to stay competitive and address its financial woes following a $5 billion USD loss in the third quarter.
According to reports, the layoff affecting executives, managers, and employees resulted from the strike involving 33,000 U.S. West Coast workers that halted production of its 737 MAX, 767, and 777 jets.
The report further mentions that the company expects the first delivery of its 777X in 2026 due to development challenges and unresolved issues with striking workers.
