Boeing is facing financial turbulence as it announces plans to lay off 17,000 employees, equating to about 10% of its global workforce. This challenging decision comes amid ongoing financial strains and operational hurdles, including a significant strike impacting the company's finances. CNBC's Jim Cramer has expressed concern over Boeing's current trajectory during a CNBC Lightning Round segment, highlighting the workforce reduction as a cause for alarm.

Adding to Boeing's difficulties, its Starliner spacecraft program has encountered complications. The Starliner capsule, which recently returned to Earth uncrewed, failed to achieve its intended outcomes, further straining the company's aerospace ambitions. The setbacks with Starliner also underscore the challenges faced by Boeing in the competitive space industry as rival SpaceX continues to progress with its Falcon 9 operations. SpaceX has successfully resumed launches with its Crew-9 Dragon spacecraft, marking a contrast to Boeing's struggles with Starliner.

These events collectively depict a period of adversity for Boeing, with workforce reductions and technical issues painting a challenging picture for the aerospace giant.