Boeing CEO Kelly Ortberg wrote in a memo that the aerospace giant is cutting 10% of its 170,000 workforce.
Boeing on Friday said it's cutting 10% of its workforce, or about 17,000 employees.In a in a memo Friday, CEO Kelly Ortberg announced the layoffs, writing that the aerospace giant must make 'tough decisions' to stay competitive. Ortberg added that the company is also delaying its program to develop the 777X airplane and halting production of the 767 aircraft after it delivers the remaining 767 planes that have been ordered by customers.
The aerospace giant's finances and reputation have also taken a hit this year due to manufacturing problems and multiple federal investigations, following a mid-air panel blowout in January. 'Our business is in a difficult position, and it is hard to overstate the challenges we face together,' said Ortberg in the memo.
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