Boeing to Lay Off 17,000 Workers

Boeing is set to lay off approximately 17,000 employees, representing about 10% of its workforce, as it confronts significant financial losses and a crippling strike involving 33,000 workers seeking a 40% wage increase over four years. Acting U.S. Labor Secretary Julie Su recently visited Seattle to mediate between Boeing and the striking union, the International Association of Machinists and Aerospace Workers (IAM), as the company prepares to issue 60-day layoff notices starting November 15. The layoffs come amid a challenging financial landscape for Boeing, which reported a loss of $1.3 billion in cash during the third quarter and plans to halt production of its 767 freighters by 2027. The company has faced a series of setbacks, including delays in its 777X program, which is now expected to deliver in 2026 instead of 2025. Boeing's CEO has acknowledged the difficult decisions necessitated by ongoing production challenges and labor disputes. These layoffs and production changes underline the turmoil currently enveloping Boeing as it seeks to stabilize its operations.