Boeing to Lay Off Up to 17,000 Employees, Faces $5B Loss, and 777X Delays—What This Means for the Industry

Boeing has announced the plan for laying off 10% of their workforce.

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Boeing President and CEO Kelly Ortberg recently shared a message with his employees announcing the future plans including some difficult decisions and several program updates.

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The company is currently facing strike from their workers.

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Analysts at stock market predict that Boeing might sell between $10 billion and $15 billion new shares to cover for the losses.

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The crisis of the Boeing started with its 737 MAX 8 aircraft after back-to-back crashes of Lion Air Flight 610 in October 2018 and Ethiopian Airlines Flight 302 in March 2019 raised safety concerns over company’s operations.

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In August 2024, NASA announced that the astronauts would return to Earth on a SpaceX Dragon spacecraft in February 2025, instead of the Boeing Starliner, citing safety concerns.

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Airbus, the major competitor of Boeing, on the other hand initiated its share buyback programme to support its future employee share ownership plan activities and equity-based compensation plans.

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IAM Air Transport Territory General Vice President Richie Johnsen shared his words with the workers on strike, supporting them.

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