Boeing Plans 17,000 Job Cuts as CEO Ortberg Shakes Up Plane Maker

KEY TAKEAWAYSBoeing shares fell Monday after the troubled plane maker announced a slew of cost-cutting measures and billions of dollars of upcoming charges.The measures are among the most radical taken by CEO Kelly Ortberg, who took the helms of the plane maker in August.Ortberg said in a memo to employees late Friday that the company is cutting around 10% of its workforce or 17,000 people "over the coming months," and postponing the launch of its first 777x jetliner. Boeing (BA) shares fell in early tradin ...