06:51 AM EST, 11/08/2024 (MT Newswires) -- Boeing ( BA ) will move forward with plans to cut around 10% of its worldwide workforce, Reuters reported late Thursday, citing an email by Chief Executive Kelly Ortberg.

The company plans to lay off 17,000 employees.

Ortberg also said in the email that the plane maker will repay wages of factory workers furloughed during the strike, Reuters reported. It furloughed thousands of salaried employees during the strike on a rolling basis and halted production of 737 Max.

Boeing ( BA ) did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 151.50, Change: +0.52, Percent Change: +0.34