Boeing CEO Says Planning To Reduce Size Of Total Workforce By Roughly 10%, Over Coming Months; "Our Business Is In A Difficult Position"; On 777x Program, Challenges Faced In Development, Flight Test Pause, Ongoing Work Stoppage, To Delay Program Timeline; On 777x Program, Now Expect First Delivery In 2026; Plan To Build & Deliver Remaining 767 Freighters Ordered & Then Conclude Production Of Commercial Program In 2027
Portfolio Pulse from Benzinga Newsdesk
Boeing plans to reduce its workforce by 10% due to business challenges. The 777x program faces delays, with first delivery expected in 2026. Boeing will complete 767 freighter orders and end production in 2027.
October 11, 2024 | 8:33 pm
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Boeing is planning a 10% workforce reduction due to business difficulties. The 777x program faces development challenges, delaying first delivery to 2026. The 767 freighter production will conclude in 2027 after fulfilling current orders.
The announcement of a 10% workforce reduction indicates significant operational challenges, likely impacting investor sentiment negatively. Delays in the 777x program and the end of 767 freighter production suggest potential revenue impacts, contributing to a negative short-term outlook.
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