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Saturday, Aug 01, 2026
Outside the box.
Boeing to Cut 17,000 Jobs Worldwide Amid Factory Strikes
Boeing is cutting 17,000 jobs globally to address financial losses from a machinist strike in Seattle. The job cuts include executives, managers, and employees. This move is part of strategic decisions to boost the company's long-term competitiveness.
Boeing announced a plan to reduce its workforce by 10 percent, cutting 17,000 jobs globally, including executives, managers, and employees.
This decision follows a significant third-quarter financial loss due to a nearly month-long strike involving 33,000 workers in Seattle.
The strike by members of the International Association of Machinists and Aerospace Workers began on September 13 due to a rejected contract offer and contributed to $3 billion in pre-tax charges.
The company anticipates a loss of $9.97 per share for the quarter.
Boeing CEO Kelly Ortberg stated that these measures are vital for the company's long-term competitiveness and include production delays, such as postponing the 777X's first delivery to 2026 and halting the 767 Freighter's production by 2027.
Ortberg also committed to increased oversight in its defense and space sectors due to expected losses.
In response, Boeing's shares dropped 1.7% in after-hours trading.
This decision follows a significant third-quarter financial loss due to a nearly month-long strike involving 33,000 workers in Seattle.
The strike by members of the International Association of Machinists and Aerospace Workers began on September 13 due to a rejected contract offer and contributed to $3 billion in pre-tax charges.
The company anticipates a loss of $9.97 per share for the quarter.
Boeing CEO Kelly Ortberg stated that these measures are vital for the company's long-term competitiveness and include production delays, such as postponing the 777X's first delivery to 2026 and halting the 767 Freighter's production by 2027.
Ortberg also committed to increased oversight in its defense and space sectors due to expected losses.
In response, Boeing's shares dropped 1.7% in after-hours trading.