On October 11th local time, Boeing, an American company, announced plans to cut 17,000 jobs globally, which represents 10% of its current workforce. On the same day, the three major U.S. stock indices closed higher together, with the Dow Jones Industrial Average (DJIA) and the S&P 500 Index reaching new closing highs. The DJIA rose by 0.97%, accumulating a 1.21% increase for the week; the Nasdaq Composite Index increased by 0.33%, accumulating a 1.13% increase for the week; the S&P 500 Index gained 0.61%, accumulating a 1.11% increase for the week. Large technology stocks fluctuated, with Tesla falling by more than 8%, Broadcom by more than 2%, while Amazon and Meta rose by more than 1%.

Boeing's stock price increased by over 3%, with its latest market value exceeding $92.8 billion.

Boeing stated that the strike by its mechanics has exacerbated the company's difficulties, and the company's business will face even greater losses. Boeing also announced that it will delay the production launch of its new 777X model to 2026, instead of the originally planned 2025. Additionally, Boeing will cease production of the 767 freighter aircraft in 2027 after fulfilling existing orders.

The strike at Boeing began on September 13th and involved approximately 33,000 mechanics who assemble Boeing's best-selling aircraft. Sheila Kahyaoglu, an analyst at Jefferies, said last month that this labor dispute led to a halt in the production of Boeing's "cash cow," the 737 Max, and other jetliners, potentially costing Boeing an additional $1.3 billion in cash each month.

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Boeing just had a falling out with the largest union organizing the strike—the International Association of Machinists and Aerospace Workers (IAM). On October 8th local time, Boeing stated that after two days of negotiations with U.S. federal government mediators, it had withdrawn its wage proposal to the IAM because the union refused to seriously consider the terms of the labor agreement proposed by Boeing.

Furthermore, the Federal Aviation Administration (FAA) announced on the same day that it had issued a safety alert to airlines, warning that the rudder movement on some Boeing 737 models might be restricted or stuck.