Boeing CEO Kelly Ortberg announced plans to cut 10% of the company’s workforce due to ongoing financial struggles and structural challenges.

Ortberg, who has been CEO for two months, is managing a strike by 33,000 workers and facing severe financial losses totaling $33 billion over five years.

Boeing has dealt with major safety issues, including fatal 737 Max crashes, and faces increasing scrutiny from regulators, CNN has reported.

Ortberg emphasized the need for tough decisions to restore the company’s competitiveness, including focusing resources more effectively and canceling future furloughs amid ongoing difficulties.

Written by B.C. Begley