Boeing is bracing for substantial restructuring as it prepares to lay off approximately 17,000 workers, or 10% of its global workforce, amid a slew of financial and operational challenges. The aerospace giant’s workforce reduction plan comes as a direct response to escalating losses and an ongoing labor strike involving 33,

Boeing announced Friday that it would cull 10 percent of its workforce — roughly 17,000 jobs — as the embattled aviation giant grapples with mounting losses and manufacturing disruptions as its machinist strike drags into the fifth week.

The reductions will include executives, managers and employees, Chief Executive Officer Kelly Ortberg said in a memo to employees.

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

Boeing will cut 10% of its workforce, or about 17,000 people, as the company’s losses mount and a machinist strike that has idled its aircraft factories enters its fifth week.

Boeing plans to cut 10 percent of its workforce, or about 17,000 workers, CEO Kelly Ortberg announced Friday. The airplane maker also said that deliveries of its 777X planes will be delayed until 2026 and that it will be discontinuing production of its 767 Freighters in 2027.

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Boeing announced Friday that it will eliminate 17,000 jobs—10% of its workforce—as it deals with deepening losses. Machinists are on strike against the company, which already was dealing with damaging safety and manufacturing problems.