Boeing to fire 17,000 workers to focus on ‘future recovery’ after year of failures

Boeing continued on its downward spiral Friday, as it announced that it was cutting 10 percent of its workforce, or 17,000 jobs, as the storied aircraft manufacturer continues to deal with a fractured bottom line and labor woes and the machinists at the company remain on strike after more than a month. The company announced the job losses as it reported its dismal third-quarter report that anticipates a loss of $9.97 per share even though it absorbed $17.8 billion in revenue.

Boeing has decided to suspend production of its 777X plane until 2026, Chief Executive Officer Kelly Ortberg told employees in a Friday memo. Ortberg replaced Dave Calhoun as CEO but the job cuts are business as usual for Boeing. Ortberg has promised to mend fences between the company and its workers, the Washington Post reported.

“Our business is in a difficult position, and it is hard to overstate the challenges we face together,” Ortberg said in an understated memo. “The state of our business and our future recovery require tough actions.”


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