The move comes after Boeing announced, on Friday, a huge third-quarter loss and layoffs impacting some 17,000 workers as a labor strike that has paralyzed its production in the Pa

Boeing and its new management team have not matched the union demands, causing a pause in production at its factories and a huge cash burn that is draining the company's finances. Here's why this strike is a bad sign for Boeing's business and puts more strain on an already stretched balance sheet.

As the Boeing factory strike continues, the company plans to lay off a 10th of its workforce. Boeing plans to lay off about 10 percent of its workers in the coming months, about 17,000 people, as it continues to lose money and tries to deal with a strike that is crippling production of the company’s best-selling airline planes.