Boeing must hold out against a strike by 33,000 workers even if it means aircraft deliveries are held up by several months, Ryanair boss Michael O’leary said. Mr O’Leary said he backed Boeing chief Kelly Ortberg’s decision to abandon talks after the machinists union rejected a sweetened 30pc pay offer.

Boeing will axe its workforce by a tenth - cutting 17,000 jobs - and delay production as the aeroplane maker deals with issues across its business. Chief executive Kelly Ortberg said in an email to staff that "executives,

Boeing Co. plans to slash its global workforce by about 10% and announced $5 billion in charges across its commercial airplanes and defense businesses, underscoring the depths of the planemaker’s financial woes amid a crippling labor strike.

Boeing will cut 17,000 jobs -- 10% of its global workforce -- delay first deliveries of its 777X jet by a year and record $5 billion in losses in the third quarter, as the U.S. planemaker continues to spiral during a month-long strike.

Aviation giant Boeing said it plans to cut 10% of its global workforce, or around 17,000 employees, amid a month-old strike that has idled its factories. An S&P Global report estimates the company is losing $1 billion a month from the demonstration.

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

This year's harsh string of layoffs continues with Boeing being the latest company to announce cuts to its workforce. The airplane manufacturing company will lay off 10 percent of its workforce — roughly 17,

The company has more than 170,000 employees. Boeing's new CEO says the company needs to refocus its resources and not spread itself too thin.