Boeing introduced Friday that it plans to put off round 17,000 workers, or about 10% of its workforce because it faces a dismal third-quarter earnings report and ongoing injury from hanging staff.
New Boeing CEO Kelly Ortberg shared the information in a letter with workers Friday afternoon after the corporate shared its preliminary third-quarter financials, revealing it misplaced practically $10 a share. The corporate expects to report income of $17.8 billion and an working money circulate of $1.3 billion. Boeing stated its money and investments in marketable securities totaled $10.5 billion on the finish of the quarter.
“While our business is facing near-term challenges, we are making important strategic decisions for our future and have a clear view on the work we must do to restore our company,” Ortberg stated in a press launch accompanying the monetary knowledge.
“These decisive actions, along with key structural changes to our business, are necessary to remain competitive over the long term,” she continued. “We are also focusing on areas that are critical to our future and will ensure we have the balance sheet necessary to invest, support our people and deliver for our customers.”
Wow.
Was simply shutting down my actual job and noticed this.
Firms launch this sort of stuff after 4 on Fridays as a result of they do not need anybody to see it.
Boeing shedding 10% of complete workforce. (17k individuals)
How’d that machinist strike work out? pic.twitter.com/Hw8eK10AlS— Frog Capital (@FrogNews) October 11, 2024
Boeing additionally introduced on Friday that it could finish manufacturing of its 767 freighter in 2027, as soon as it finishes present orders.
This breaking information report will likely be up to date shortly with additional info.
