Boeing workforce cut by 10% after reporting significant losses in Q3, leading to major layoffs and a corporate restructuring.
Boeing announced Friday that it plans to cut 10 percent of its workforce as it projected a large third-quarter loss in the wake of a machinist strike in the Seattle region.
Boeing staff with the International Association of Machinists and Aerospace Workers walked off the job on September 13 after overwhelmingly rejecting a contract offer.Boeing, which has also faced significant scrutiny over commercial aviation safety lapses and stumbles in its Starliner space program, said the IAM strike contributed to $3 billion in pre-tax charges to its commercial aviation results in the third quarter, part of an anticipated loss of $9.97 per share.
The company plans to cease production of the 767 Freighter in 2027 once it completes production on current orders.
Boeing Q3 Loss Boeing Layoffs Boeing Job Cuts 2024 Boeing Financial Loss Boeing Corporate Restructuring
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