# Boeing to Cut 17,000 Jobs as Financial Struggles Deepen! ✈️ **URL:** \ **Category:** News & Articles\ **Tags:** tools\ **Created:** [October 12, 2024, 5:40pm UTC](https://onehack.st/t/boeing-to-cut-17-000-jobs-as-financial-struggles-deepen/293372 "2024-10-12T17:40:09Z")\ **Posts on this page:** 1\ **Page:** 1
**Author:** ![TheJoker](https://onehack.st/user_avatar/onehack.st/thejoker/32/22660_2.png) [@TheJoker](https://onehack.st/u/TheJoker)\ **Post date:** [October 12, 2024, 5:40pm UTC](https://onehack.st/t/boeing-to-cut-17-000-jobs-as-financial-struggles-deepen/293372/1 "2024-10-12T17:40:10Z")
**Summary:** 1. **Significant Job Cuts Announced** Boeing plans to eliminate **10%** of its workforce, amounting to approximately **17,000 jobs** , in response to ongoing financial struggles and manufacturing disruptions. 2. **Impact of Strikes** The decision comes amid a prolonged **machinists strike** , now in its fifth week, which has halted production of some of Boeing’s best-selling jets and is costing the company an estimated **$1 billion per month**. 3. **Affected Positions** The layoffs will impact a range of employees, including executives, managers, and production staff, as outlined in a memo from CEO **Kelly Ortberg**. 4. **Delayed Aircraft Launch** Boeing will also postpone the launch of its **777X** aircraft until **2026** , further compounding its operational challenges. 5. **Ongoing Financial Losses** The company has suffered over **$25 billion** in losses in the past five years and is facing potential credit rating downgrades due to its deteriorating financial situation. 6. **Cost-Cutting Measures** In addition to layoffs, Boeing has implemented a hiring freeze and reduced unnecessary travel as part of its efforts to manage expenses during this difficult period. **Read more at:** [MSN](https://www.msn.com/en-us/money/news/boeing-will-shed-17-000-jobs-as-finacial-woes-deepen/ar-AA1s7jMc)