Boeing CEO Kelly Ortberg announced that the company will reduce its total workforce by 10% over the coming months, amounting to around 17,000 jobs based on December 2023 total workforce numbers.
The big picture: Due to the workforce reductions, Boeing will not proceed with the next cycle of furloughs, Ortberg said in a letter to employees on Friday.
- Ortberg also revealed that the 777X program will be delayed until 2026, the 767 freighter program will end in 2027, and the company anticipates “substantial new losses” in Boeing Defense, Space & Security for the quarter.
- Ortberg emphasized the challenges faced by the business and highlighted the need for tough decisions and structural changes to ensure competitiveness and long-term delivery for customers.
