Workforce and Production Adjustments
CEO announced a 10% reduction in the company's global workforce, equating to about 17,000 jobs, as part of efforts to align with financial realities following a month-long strike.
The company also delayed the first delivery of its wide-body jet to 2026, marking a six-year delay, and announced the cessation of commercial 767 production in 2027.
Financial Struggles and Strategic Changes
Boeing anticipates a third-quarter loss of $9.97 per share, with significant impacts in both its commercial and defense sectors, as it faces over $1 billion in monthly losses due to the strike.
Amid these challenges, Ortberg emphasized the need for structural changes and strategic decisions to restore the company, including adjustments to Boeing's product lineup and a focus on regaining trust.