The planemaker will also delay the delivery of its first 777X jet by a year. Boeing CEO Kelly Ortberg said that the comapny must shrink its workforce "to align with financial reality".

Boeing said it will lay off about 10% of its workforce as losses deepen from an ongoing factory strike.

Boeing announced Friday that it plans to cut 10 percent of its workforce as it projected a large third-quarter loss in the wake of a machinist strike in the Seattle region.

Boeing will cut 17,000 jobs - 10 per cent of its global workforce - delay the first deliveries of its 777X jet by a year and record US$5 billion in losses in the third quarter, as the United States planemaker continues to spiral during

Boeing to cut 17,000 jobs, delay 777X delivery, and expects losses due to strike, CEO Ortberg announces.

Boeing recorded a loss of $5 billion in the third quarter as the US planemaker continued to spiral during a month-long strike. The company had already faced issues with the certification of the 777X that had significantly delayed the plane's launch.

Oct. 11 (UPI) -- Boeing will lay off 17,000 workers and delay the introduction of its 777X wide-body plane until 2026, CEO Kelly Ortberg revealed Friday amid an increasingly bitter five-week-old machinist strike.