The American company is laying off 17,000 employees

The American company “Boeing” will reduce its workforce by ten percent, which is about 17,000 people, while the company’s losses are increasing, and the machinists’ strike, which has stopped work at this aircraft factory, is entering its fifth week.

This American company will not deliver its still uncertified wide-body plane “777X” until 2026, thus calling into question a plan that is already six years behind schedule, CNN reports.

The company “Boeing” suspended tests of this model of aircraft in August when it discovered structural damage on one of them.

-We will also stop production of 767 commercial freighters from 2027, after we deliver the planes already ordered. We are in a difficult position and it is difficult to assess the challenges we face together. Rebuilding our company requires tough decisions and we will be forced to make structural changes to ensure we remain competitive and deliver aircraft to our customers over the long term, said CEO Kelly Ortberg.

In preliminary financial projections, Boeing said it expects an operating cash deficit of $1.3 billion in the third quarter.

Credit rating agencies have warned that the company is at risk of losing its investment-grade rating, and Boeing is losing money in what executives hoped would be a turnaround year.

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