Boeing to Cut 17,000 Jobs Amid Strike and Production Disruption

Boeing plans to reduce its global workforce by 10%, which translates to approximately 17,000 jobs. This move comes in response to the company's projected large third-quarter loss. The workforce reduction will be implemented through a series of belt-tightening measures, including production delays. Additionally, Boeing staff affiliated with the International Association of Machinists (IAM) and Aerospace Workers went on strike on September 13, halting production of certain aircraft. CEO Kelly Ortberg attributed the downsizing to a need to align with the company's financial reality. The layoffs are expected to affect various levels of employees, including executives, managers, and employees. Furthermore, Boeing warned of potential losses in its weapons and military equipment manufacturing division.