Boeing's Big Job Cuts: What's Going On?

You might have heard that Boeing is cutting 17,000 jobs. That's about 10% of their workforce. Why are they doing this? Well, they're losing a lot of money, and a five-week-long strike at their factories isn't helping. Boeing says they'll lose $9.97 per share in the third quarter alone. That's a lot of money! The strike started in September when workers didn't agree with a deal Boeing offered. Both sides are now pointing fingers at each other. Boeing says the union isn't negotiating fairly, and the union says Boeing isn't listening to them. It's a tough situation, and Boeing's new CEO, Kelly Ortberg, has a big job to fix things.

Ortberg has been in the job for just over two months and is trying to turn things around after some big problems with safety and manufacturing. But the strike has been a real challenge. Boeing is losing more than $1 billion a month because of it. The company also plans to delay its new wide-body plane, the 777X, until 2026. That's six years behind schedule. And they'll stop making commercial 767 freighters in 2027. These are big changes, and they show how tough things are for Boeing right now.

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