00:00It's Benzinga, and here's what's on the block.
00:02Boeing plans to reduce its workforce by 10%, amounting to 17,000 jobs, as the machinist
00:08strike extends to its fifth week halting aircraft production.
00:12The company will also delay the launch of its 777X wide-body airplane until 2026, six
00:18years behind schedule.
00:19Boeing paused test flights of the plane in August after discovering structural damage,
00:24and it will cease production of commercial freighters in 2027 after fulfilling current
00:28orders.
00:29Boeing has filed an unfair labor practice charge against the International Association
00:33of Machinists and Aerospace Workers, claiming bad-faith negotiations.
00:38Union leaders call for a return to bargaining as tensions rise.
00:41For all things money, visit Benzinga.com.
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