Employees Layoff: This company will lay off 17,000 employees, CEO explained the reason for layoffs

Boeing will cut 17,000 jobs. It will delay the first delivery of its 777X jet by a year and post a record loss of $5 billion in the third quarter, as the US aircraft manufacturer continues to suffer losses during a months-long strike.

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Boeing CEO Kelly Ortberg said in a message to employees that the company must reduce its workforce “consistent with our financial reality” as production of its 737 MAX, 767 and 777 jets has been halted due to the ongoing strike by 33,000 US West Coast employees.

Ortberg’s message said, “We reset our workforce levels consistent with our financial reality and for a more focused set of priorities. In the coming months, we plan to reduce the size of our total workforce by approximately 10 percent. These reductions will include executives, managers and employees.”

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