Boeing is cutting approximately 17,000 jobs, about 10% of its global workforce, due to financial pressures from declining demand for commercial aircraft. These job cuts will primarily impact Boeing's commercial aviation division, as the company navigates market challenges like supply chain disruptions and increased competition. Amidst these changes, Boeing is strategically focusing on innovations in the defense and space sectors to diversify its revenue streams and better position itself for recovery as air travel demand rebounds. Watch the video for a detailed analysis of Boeing's current situation and future plans.
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