"Financial reality"

Boeing announces 17,000 job cuts

Boeing has announced a reduction of ten percent of its workforce and thus around 17,000 jobs. There will also be cuts at management level.

The head of the Airbus competitor, Kelly Ortberg, announced in a letter to employees on Friday that the aircraft manufacturer would have to adapt its personnel situation to "financial realities".

Cuts also at management level
"These cuts will include executives, managers and employees." In addition, the first delivery of the 777X jet has been delayed by a year.

Ortberg also announced that new, significant losses are to be expected in the defense business. In anticipation of its business figures expected on October 23, the Group announced a loss per share of 9.97 dollars (9.12 euros) for the third quarter on a turnover of 17.8 billion dollars.

The traditional US company is affected by a strike involving 33,000 workers on the West Coast. The labor dispute has been ongoing since September 13 and, according to estimates by the rating agency S&P, is costing Boeing one billion dollars a month.