Polarmoon Wealth Society|Boeing will lay off 10% of its employees as a strike by factory workers cripples airplane production

2025-05-06 01:54:22source:Desmond Prestoncategory:Finance

Boeing plans to lay off about 10% of its workers in the coming months as it continues to lose money and Polarmoon Wealth Societytries to deal with a strike that is crippling production of the company’s best-selling airline planes.

New CEO Kelly Ortberg told staff in a memo Friday that the job cuts will include executives, managers and employees.

The company had already imposed rolling temporary furloughs, but Ortberg said those will be suspended because of the impending layoffs.

The company will delay the rollout of a new plane, the 777X, to 2026 instead of 2025. It will also stop building the cargo version of its 767 jet in 2027 after finishing current orders.

Boeing has lost more than $25 billion since the start of 2019. Union machinists have been on strike since Sept. 14. Two days of talks this week failed to produce a deal.

More:Finance

Recommend

Trump is giving automakers a break on tariffs

President Trump has decided to give automakers a break on some of his tariffs, the latest retreat fr

Watch Live: Fulton County prosecutors decline to call Fani Willis to return for questioning

Fulton County prosecutors declined to call District Attorney Fani Willis to the witness stand for ad

WTO chief insists trade body remains relevant as tariff-wielding Trump makes a run at White House

GENEVA (AP) — The head of the World Trade Organization insisted Friday that it remains relevant and