Key Points
Boeing will cut 17,000 jobs, delay first deliveries of its 777X jet by a year and record $5 billion in losses in the third quarter, as the US planemaker continues to spiral during a month-long strike...
Boeing CEO Kelly Ortberg said in a message to employees that the company must shrink its workforce "to align with our financial reality" after an ongoing strike by 33,000 US West Coast workers shuttered production of its 737 MAX, 767 and 777 jets...
Ortberg also said Boeing has notified customers that the company now expects the first delivery of its 777X in 2026 due to the challenges Boeing has faced in development, as well as from the flight-test pause and ongoing work stoppage..
Boeing, which reports its third-quarter earnings on Oct. 23, said in a separate release it now expects revenue of $17.8 billion, a loss per share of $9.97, and negative operating cash flow of $1.3 billion.. "While our business is facing near-term challenges, we are making important strategic decisions for our future and have a clear view on the work we must do to restore our company," Ortberg added in a statement...
