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00:02Boeing plans to cut 5% of its commercial airplane workforce
00:06as it struggles to increase jetliner production.
00:10In the memo reviewed by Reuters,
00:12Division Chief Stephanie Pope said,
00:14slower production schedules have left the company overstaffed.
00:17The reductions will occur through attrition and involuntary layoffs,
00:21with notices beginning in December at the earliest.
00:24Boeing now expects to reach a 737 production rate
00:28of 47 jets per month in early 2027,
00:32later than its previous summer 2026 target.
00:35The company also pushed its $10 billion free cash flow target to 2029,
00:40one year later than analysts expected.
00:43Boeing has struggled to increase 787 production,
00:46while its 767 and 777 programs have also faced disruptions.
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