The plane maker plans to book $5 billion in charges on troubled programs and warns of a deeper quarterly loss amid machinists strike.

(Reuters) -U.S. planemaker Boeing will cut 17,000 jobs, or 10% of its global workforce, delay first delivery of its 777X jet by a year and expects substantial new losses in its defense business as a month-long strike batters company finances, CEO Kelly Ortberg said on Friday.

Boeing will lay off 10% of its workforce in the coming months and is making changes to its production schedule amid the ongoing Machinists strike.