Boeing to Cut 17,000 Jobs Amid Financial Struggles

The aerospace giant faces a challenging period marked by significant layoffs, production delays, and ongoing labor strikes.

Boeing's workforce reduction will affect approximately 10% of its global staff, impacting all levels from executives to employees.
The company announced further delays in the delivery of its 777X aircraft and plans to cease 767 cargo production by 2027.
The ongoing machinists' strike in Seattle has halted major production lines, costing Boeing an estimated $1 billion per month.
Despite the challenges, Boeing's stock saw a 3% rise, reflecting investor response to the company's strategic adjustments.
Third-quarter financial results are expected to show significant losses, exacerbated by strike-related disruptions and program delays.