Boeing to cut 17,000 jobs

Boeing will cut 17,000 jobs, delay first deliveries of its 777X jet by a year and record $5 billion in losses in the third quarter

Boeing will cut 17,000 jobs, delay first deliveries of its 777X jet by a year and record $5 billion in losses in the third quarter, as the US planemaker continues to spiral during a month-long strike.

Boeing CEO Kelly Ortberg said in a message to employees that the company must shrink its workforce "to align with our financial reality" after an ongoing strike by 33,000 US West Coast workers shuttered production of its 737 MAX, 767 and 777 jets.

"We reset our workforce levels to align with our financial reality and to a more focused set of priorities. Over the coming months, we are planning to reduce the size of our total workforce by roughly 10 percent. These reductions will include executives, managers and employees," Ortberg's message said.