Boeing Faces Layoffs Amid Declining Deliveries and Existential Challenges
Boeing is proceeding with plans to lay off 10% of its global workforce despite the end of a machinist strike, as it faces significant financial losses and delivered its fewest planes in years. The company issued 60-day layoff notices to engineering union members and is focusing on cost-cutting measures to recover from a $6 billion loss last quarter. Production challenges, including issues with the 737 Max model, continue to impact Boeing's operations.