Boeing plans to lay off about 10% of its workers in the coming months as it continues to lose money and tries to deal with a strike that is crippling production of the company’s best-selling airline planes.
New CEO Kelly Ortberg told staff in a memo Friday that the job cuts, which could total about 17,000 positions, will include executives, managers and employees.
The company has about 170,000 employees worldwide, many of them working in manufacturing facilities in the states of Washington and South Carolina.
Boeing had already imposed rolling temporary furloughs, but Ortberg said those will be suspended because of the impending layoffs.
The company will delay the rollout of a new plane, the 777X, to 2026 instead of 2025. It will also stop building the cargo version of its 767 jet in 2027 after finishing current orders.
Boeing has lost more than $25 billion since the start of 2019.
About 33,000 union machinists have been on strike since Sept. 14. Two days of talks this week failed to produce a deal, and Boeing filed an unfair-labor-practices charge against the International Association of Machinists and Aerospace Workers.
As it announced layoffs, Boeing also gave a preliminary report on its third-quarter financial results — and the news is not good for the company.
Boeing said it burned through $1.3 billion in cash during the quarter and lost $9.97 per share. Industry analysts had been expecting the company to lose $1.61 per share in the quarter, according to a FactSet survey, but analysts were likely unaware of some large write-downs that Boeing announced Friday.
The company based in Arlington, Virginia, said it had $10.5 billion in cash and marketable securities on Sept. 30.
The strike has a direct bearing on cash burn because Boeing gets half or more of the price of planes when it delivers them to airline customers. The strike has shut down production of the 737 Max, Boeing's best-selling plane, and 777x and 767s. The company is still making 787s at a nonunion plant in South Carolina.
“Our business is in a difficult position, and it is hard to overstate the challenges we face together,” Ortberg told staff. He said the situation “requires tough decisions and we will have to make structural changes to ensure we can stay competitive and deliver for our customers over the long term.”
Boeing will lay off 10% of its employees as a strike by factory workers cripples airplane production
https://arab.news/n8hry
Boeing will lay off 10% of its employees as a strike by factory workers cripples airplane production
- Boeing has lost more than $25 billion since the start of 2019.
This handout photograph released on Jan. 21, 2026, shows a view of prehistoric cave paintings in the Sulawesi island of Indonesia, which includes faded hand stencils dated to at least 67,800 years ago. (AFP Photo/Maxime Aubert/Griffith University)
- Newly dated artworks are believed to have been created by ancestors of indigenous Australians
- Discovery shows Sulawesi as one of world’s oldest centers of artistic culture, researcher says
JAKARTA: Hand stencils found in a cave in Indonesia’s Sulawesi are the world’s oldest known artworks, Indonesian and Australian archeologists have said in a new study that dates the drawings back to at least 67,800 years ago.
Sulawesi hosts some of the world’s earliest cave art, including the oldest known example of visual storytelling — a cave painting depicting human-like figures interacting with a wild pig. Found in 2019, it dates back at least 51,200 years.
On Muna, an island off the province’s southeast, researchers have discovered new artworks which are faint and partially obscured by a more recent motif on the wall. They used a new dating technique to determine their age.
The cave art is of two faded hand stencils, one at least 60,900 years old and another dating back at least 67,800 years. This makes it the oldest art to be found on cave walls, authors of the study, which was published this week, said in the journal Nature.
Adhi Agus Oktaviana, a researcher at the National Research and Innovation Agency, or BRIN, and co-author, said this hand stencil was 16,600 years older than the rock art previously documented in the Maros-Pangkep caves in Sulawesi, and about 1,100 years older than stencils found in Spain believed to have been drawn by Neanderthals.
The discovery “places Indonesia as one of the most important centers in the early history of symbolic art and modern human seafaring. This discovery is the oldest reliably dated rock art and provides direct evidence that humans have been intentionally crossing the ocean since almost 70,000 years ago,” Oktaviana said on Wednesday.
The stencils are located in Liang Metanduno, a limestone cave on Muna that has been a tourist destination known for cave paintings that are about 4,000 years old.
“This discovery demonstrates that Sulawesi is one of the oldest and most continuous centers of artistic culture in the world, with roots dating back to the earliest phases of human habitation in the region,” said Prof. Maxime Aubert of Australia, another of the study’s co-authors.
To figure out the stencils’ ages, researchers used a technique called laser-ablation uranium-series dating, which allows for the accurate dating of ocher-based rock art. The method uses a laser to collect and analyze a tiny amount of mineral crusts that had formed on top of the art.
The study also explored how and when Australia first became settled, with the researchers saying the stencil was most likely created by the ancestors of indigenous Australians.
