From Financial Modeling Prep: 2024-10-14 15:56:00

Boeing (NYSE:BA) plans to cut 17,000 jobs, about 10% of its workforce, and delay 777X deliveries by a year, resulting in a $5 billion loss for Q3. CEO Kelly Ortberg stresses the need for restructuring to ensure long-term competitiveness and focus on core areas for growth.

The company faces challenges from a worker strike in the Pacific Northwest, leading to increased costs and potential downgrade of bond rating to junk status. Financial analysts estimate Boeing will require an extra $10 billion in financing to sustain operations during this period.



Read more at Financial Modeling Prep:: Boeing Plans Major Workforce Reduction, Shares Dro…