US Boeing "10% Employees Fired"...17,000 job losses forecast

U.S. aircraft manufacturer Boeing, which has been on strike for a month, has decided to make layoffs.

Boeing says it will cut 10% of its employees to cut costs.

There are 170,000 Boeing employees and 17,000 job cuts.

Boeing's third-quarter loss for the year is expected to be $3.37 per share, above $2.90 per share for the second quarter.

Boeing CEO Kelly Autoburg wrote in a note to employees saying that restoring the company requires difficult decisions, and that structural changes must be made to help it remain competitive in the long run.

It also said it would not deliver 777X planes until 2026, and would stop producing 767 commercial aircraft in 2027.

30,000 Boeing factory workers in Washington, Oregon, and California have been on strike for the first time in 16 years, demanding higher wages since the 13th of last month.