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Speaker 1: News when you want it with Bloomberg News Now, I'm

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Speaker 1: Dan Schwartzmann. Boeing says it plants to cut its workforce

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Speaker 1: by about ten percent, or seventeen thousand workers, responding to

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Speaker 1: the crisis facing the playmaker as it faces a drawn

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Speaker 1: out strike by workers and a worsening cash crunch. More

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Speaker 1: from Bloomberg's Charlie Pellett.

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Speaker 2: Word came in a memo to employees. CEO Kelly Ortberg

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Speaker 2: says the reductions will include executives, managers, and employees. Boeing

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Speaker 2: ended twenty twenty three with one hundred and seventy one

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Speaker 2: thousand employees. Ortberg said, our business is in a difficult position,

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Speaker 2: and it's hard to overstate the challenges we face together.

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Speaker 2: Boeing has already initiated a range of cost cutting plans

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Speaker 2: as it grapples with dwindling reserves and low output in

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Speaker 2: New York. Charlie Pellett's Bloomberg Radio.

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Speaker 1: Thanks Charlie. Meanwhile, Bloomberg Intelligence Senior Aerospace, Defense and Airlines

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Speaker 1: analyst George Ferguson isn't sure Boeing will cut a lot

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Speaker 1: of their big businesses to save money.

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Speaker 3: There's a lot of small pieces in Boeing that you

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Speaker 3: might be able to get rid of and make a

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Speaker 3: little bit of money. But you know, I've heard a

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Speaker 3: lot of people sort of talk about ge and their

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Speaker 3: turnaround and how they hived off a bunch of businesses

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Speaker 3: to raise cash.

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Speaker 4: I just don't see that potential here. We even saw

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Speaker 4: that at Rolls Royce when they hiped off a bunch

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Speaker 4: of businesses. I think there's small stuff they could make

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Speaker 4: cash with. I honestly don't think space is something they

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Speaker 4: can make much in selling.

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Speaker 1: That, George Ferguson, speaking with Bloomberg BusinessWeek. The company also

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Speaker 1: announcing that the first delivery of Boeing's already delayed Triple

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Speaker 1: seven X aircraft will now happen in twenty twenty six,

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Speaker 1: when the playmaker is also discontinuing the seven sixty seven

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Speaker 1: cargo plane. Reports say that Israel has yet to determine

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Speaker 1: its response to Iran firing two hundred missiles at it

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Speaker 1: back on October first. A security cabinet meeting on Thursday

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Speaker 1: ended without a decision. Meanwhile, CNN is reporting that he

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Speaker 1: Run's government is quote extremely nervous regarding what Israel's retaliation

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Speaker 1: will be has reached out to other countries in the

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Speaker 1: Middle East to see if they can help the limit

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Speaker 1: what Israel may do. The report says that he ran

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Speaker 1: his all so seeing if some of the other Middle

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Speaker 1: Eastern countries would even help protect Tehran from an Israeli strike. Meanwhile,

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Speaker 1: the US is expanding sanctions on Iran's oil and petrochemical

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Speaker 1: sectors as a response to its attack on Israel. The

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Speaker 1: move essentially allows the US to sanction anyone linked to

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Speaker 1: Iran's petroleum in petro chemical sector. The US is sanctioning

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Speaker 1: seventeen ships in ten entities that have been involved in

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Speaker 1: shipping both products. Two of Florida's biggest utility companies, Florida

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Speaker 1: Power in Light and Duke Energy Florida, say most of

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Speaker 1: their customers will have their power restored by early next week.

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Speaker 1: More than fifty thousand utility workers from the US and

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Speaker 1: Canada have been working to repair power lines in damaged polls. Overall,

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Speaker 1: around two million homes and businesses were without power. Duke

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Speaker 1: Energy says in certain areas hit hard by the storms,

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Speaker 1: they would have to go as far as rebuilding their systems. Meanwhile,

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Speaker 1: President bind will be in the state this weekend to

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Speaker 1: experience firsthand the devastation caused by Hurricane Milton. The president

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Speaker 1: believes the financial cost of the storm could reach its

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Speaker 1: high as fifty billion dollars if he's owned. Seven to

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Speaker 1: eleven is closing four hundred and forty four underperforming stores

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Speaker 1: in the US, saying that fewer people go into its stores.

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Speaker 1: One of the main reasons cited is the decline in

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Speaker 1: demand for cigarettes. This comes as it tries to fend

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Speaker 1: off an unsolicited takeover bid by the Canadian convenience store

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Speaker 1: giant Kouche Tard, which is the owner of Circle K

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Speaker 1: stores in the US. The Los Angeles Dodgers have moved

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Speaker 1: on to the Nation League Championship Series with a Game five,

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Speaker 1: two to nothing win over the San Diego Padres behind

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Speaker 1: five shutout innings from yoshinob Yamamoto. L an X faces

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Speaker 1: the New York Mets in the NLCS, which begins on

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Speaker 1: Sunday at Dodgers Stadium. Meanwhile, Major League Baseball has moved

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Speaker 1: up the start time of Saturday's American League Divisional Series

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Speaker 1: Game five between the Detroit Tigers and Cleveland Guardians at

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Speaker 1: Progressive Field in Cleveland to one aw eight pm from

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Speaker 1: eight to eight pm. Due to expected inclement weather. The

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Speaker 1: winner will move on to face the New York Yankees

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Speaker 1: in the American League Championship Series. That's news when you

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Speaker 1: want it with Bloomberg News Now. I'm Dan Schwartzman, and

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Speaker 1: this is Bloomberg