Boeing said it was issuing layoff notices to employees included in the aerospace giant’s broader workforce reduction plan.

The approximately 17,000 employees affected by the job cuts were informed this week and are expected to leave the company in mid-January, Boeing said.

The cuts, which occur after a union strike, are equivalent to 10% of its workforce.

“We are adjusting our workforce to align with our financial reality and a more focused set of priorities,” Boeing said in a statement to FOX Business.

CEO Kelly Ortberg, who took office in August, told staff in a memo last month that the job cuts would include executives, managers and employees.

“Our company is in a difficult position and it is difficult to overstate the challenges we face together,” Ortberg told staff, saying the situation “requires difficult decisions and we will need to make structural changes to ensure that we can remain competitive and deliver to our customers over the long term.

The company has approximately 170,000 employees worldwide, many of whom work in manufacturing facilities in South Carolina and Washington state.

The company also announced the end of production of its 767 aircraft in 2027 after finalizing current orders for 29 aircraft.

Boeing also delayed the rollout of its new 777X to 2026, instead of 2025. The delay comes after the recent discovery of a faulty part grounded test flights earlier this year.

The aerospace company faced a strike involving 33,000 workers in the Seattle area.

The strike halted production of the 737 Max, Boeing’s best-selling plane, as well as the 777 and 767.

The strike was called after workers overwhelmingly refused interim contract negotiations proposed by the company.

The Max is a key revenue source for Boeing, which raised more than $24 billion in late October to shore up its precarious finances and protect its investment grade rating following concerns from rating agencies.

Boeing has lurched from crisis to crisis this year, beginning Jan. 5 when a door panel blew off a 737 Max plane in mid-flight.

Since then, its CEO has left, its production has slowed as regulators investigated its safety culture, and its largest union went on strike on September 13.

The end of the strike on November 5 and the return of Boeing workers to the company’s Seattle-area assembly lines this week now supports a slow recovery in Max production.

Jasmine Baehr of FOX Business and Reuters contributed to this report.