Boeing to cut 17,000 jobs amid ongoing employees’ strike

Boeing has announced that it will lay off 17,000 employees, delay the first deliveries of its 777X jet, and record $5 billion in losses due to ongoing strikes by thousands of workers. The CEO stated that the company needs to align its workforce with financial reality and focus on key priorities. The strike has halted production of several jet models, leading to significant financial challenges for Boeing. The company is also facing legal issues related to safety protocols and fraud allegations. Boeing is considering raising billions of dollars through stock sales to address its massive debt and cash flow losses. Overall, the future of Boeing remains uncertain due to ongoing challenges and financial difficulties.