Boeing announces a 10% cut in its workforce, about 17,000 employees, to reduce costs

MADRID 11 Oct. () –

Boeing announced this Friday that it plans to cut approximately 10% of the workforce, some 17,000 jobs, in response to the crisis experienced by the aircraft manufacturers and in the midst of a workers’ strike over the new collective agreement.

The reductions will include executives, managers and employees, the company’s CEO, Robert Kelly Ortberg, has assured workers. Boeing closed 2023 with 171,000 employees, according to ‘Bloomberg’.

Ortberg has also announced that the first delivery of Boeing’s 777X aircraft will now take place in 2026.

The company said it expects third-quarter revenue of $17.8 billion and a loss of $9.97 per share, according to preliminary figures.

Boeing has already initiated a series of cost reduction plans. The company has furloughed some workers, frozen hiring and reduced corporate travel.

Likewise, it plans to update its financial accounts on October 27 with data for the third quarter, after tripling its net losses to 1,794 million dollars (1,654 million euros) in the first half of 2024.