05:02 PM EDT, 10/11/2024 (MT Newswires) -- Boeing ( BA ) late Friday disclosed plans to lay off around 10% of its workforce and that its financial results for the September quarter likely will trail Wall Street estimates by a wide margin.

The aircraft manufacturer, which has been idled by a workers' strike of around 33,000 mechanics, said it expects to report a Q3 net loss of $9.97 per share on around $17.8 billion in revenue. That compares with the analysts consensus polled by Capital IQ of a Q3 loss of $1.19 per share on $18.39 billion in revenue.

In a message to employees also issued Friday, Boeing ( BA ) chief executive Kelly Ortberg said the upcoming layoffs will affect all levels of its workforce, including executives, managers and other employees.

The company did not specify a timeline, but said it plans to release additional details of the job cuts next week, adding it no longer will move forward with the next cycle of furloughs.

Boeing ( BA ) also said its 777X program continues to be delayed by the current work stoppage and that it told customers its expects first delivery of the new jets in 2026.

Price: 148.87, Change: -2.15, Percent Change: -1.42