Embattled Boeing to slash 10% of workforce in latest blow

Boeing is cutting 10% of its workforce, nearly 17,000 workers, as part of a restructuring effort to reduce costs. The company's new CEO, Kelly Ortberg, announced the decision in a memo to employees, citing the challenges the company faces. Boeing has been dealing with a crippling strike, quality and safety issues, and is trying to ramp up production. Ortberg stated that the company's business is in a difficult position and that tough decisions are necessary to ensure competitiveness. The workforce reduction will affect executives, managers, and employees over the coming months. Boeing will also delay deliveries of its 777X jet to 2026, six years behind its original schedule. Additionally, the company will stop production of its 767 Freighters in 2027 after completing outstanding orders. The restructuring efforts aim to restore the company's reputation and improve its long-term prospects. Ortberg assumed the position of CEO in August and is working to address the company's challenges. The planned cuts are part of a broader effort to reduce costs and ensure the company's competitiveness in the aerospace industry.