Reported about 3 hours ago
Boeing's stock fell 2% following the company's announcement of a 10% workforce reduction, translating to approximately 17,000 job cuts, and a delay in the delivery of its 777X jet to 2026 due to an ongoing strike by workers. CEO Kelly Ortberg acknowledged the company's difficult position, stating that structural changes are necessary for long-term competitiveness. The strike is estimated to be costing Boeing around $1 billion per month and has led to a potential downgrade in its credit rating.
Source: YAHOO