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Now I'm Amy Morris. This just crossing the

Bloomberg Terminal, Boeing says it plans to cut its workforce by about 10%

responding to the crisis facing the plane maker as it faces a drawn-out strike

by workers and a worsening cash crunch.

Bloomberg Intelligence Senior Aerospace Defense and Airlines analyst George Ferguson.

Tough times are ahead.

That's what CEO Kelly Orpberg told the company when he told them there's going to be a 10% cut.

Tightening their belts here.

It looks to me like they're posturing for the long haul, right?

They're telling, to me, I think they're telling the Union, you know, we're going to

slim down, we need to save a much of money and we're ready to kind of go the

long haul, honor negotiations with you. We're going to take pain on the executive side as well.

Roughly 17,000 jobs will be affected.

That's about 10% of its workforce, including executives, managers, and employees.

The company also announcing that first delivery Boeing's already delayed

...