Boeing to cut 17,000 jobs [Video]

Boeing will cut 17,000 jobs — 10 per cent of its global workforce — delay first deliveries of its 777X jet by a year and record US$5 billion in losses in the third quarter, as the U.S. planemaker continues to spiral during a month-long strike.

CEO Kelly Ortberg said in a message to employees that the significant downsizing is necessary “to align with our financial reality” after an ongoing strike by 33,000 U.S. West Coast workers halted production of its 737 MAX, 767 and 777 jets.

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“We reset our workforce levels to align with our financial reality and to a more focused set of priorities. Over the coming months, we are planning to reduce the size of our total workforce by roughly 10 per cent. These reductions will include executives, managers and employees,” Ortberg’s …