Boeing has announced it will cut approximately 17,000 jobs, about 10% of its workforce, as it faces significant financial challenges, including a third-quarter loss and manufacturing disruptions caused by a machinist strike. The new CEO, Kelly Ortberg, emphasized the need for structural changes and cost-cutting measures to align with the company's financial reality and improve plane production, with the 777X launch delayed until 2026. These layoffs will affect executives, managers, and employees across various locations, although some operations, such as those in San Antonio, will remain unaffected by the strike. The strike, led by the International Association of Machinists and Aerospace Workers, involves over 33,000 workers and continues into its fifth week, with negotiations stalled. Boeing's financial difficulties are further compounded by previous missteps and dwindling cash reserves. Overall, these measures are part of Ortberg's strategy to steer the company towards recovery and competitiveness.