Boeing to cut 10 pct of workforce

SAN FRANCISCO - Boeing said on Friday that it will lay off 10 percent of its workforce in the coming months and cut its production amid a month-long strike.

The job cuts will impact roughly 17,000 workers across all levels of the company, Boeing said, adding that it will end production of its 767 freighter in 2027 after completing the current orders for 29 jets.

It also delayed the rollout of its new 777X to 2026, following years of certification delays and the recent discovery of a defective part that grounded test flights earlier this year.

In a note to employees, new Boeing CEO Kelly Ortberg said the company had to "reset our workforce levels to align with our financial reality."

"We need to be clear-eyed about the work we face and realistic about the time it will take to achieve key milestones on the path to recovery," he said.

"We also need to focus our resources on performing and innovating in the areas that are core to who we are, rather than spreading ourselves across too many efforts that can often result in underperformance and underinvestment," Ortberg said.