Boeing is set to cut approximately 17,000 jobs, amounting to 10% of its workforce, as it grapples with significant financial losses and operational setbacks. The company is currently $60 billion in debt and reported a loss of $9.97 per share.
Delays in the delivery of the 777X and ongoing issues with the 737 MAX-9 have compounded these difficulties. Additionally, Boeing is facing contentious contract negotiations with unions, culminating in a strike involving 33,000 workers.
The company also plans to halt production of the 767, reflecting its struggle to navigate through a challenging economic landscape. With revenue projections of $17.8 billion, the need for strategic adjustments has become paramount as Boeing strives to regain stability.
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