Boeing Co. said it incurred nearly $3 billion worth of charges in the fourth quarter of 2024 due to a lengthy labor stoppage, job cuts and problems with a number of government programs. As a result, the Chicago-based aerospace giant said Thursday that it will report a loss of $5.

Boeing had previously announced plans to reduce its workforce by 10%, which added to the company's financial strain during the quarter.

The machinist strike and Pentagon projects have sapped the manufacturer’s cash flow.