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Boeing cutting production of 777 beginning next year

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EVERETT, WA - FEBRUARY 14: Boeing 777 passenger planes in various stages of completion sit on one of the assembly lines February 14, 2011 at the company's factory in Everett, Washington. The new plane features quieter, more fuel efficient engines, more seating and a redesigned interior. (Photo by Stephen Brashear/Getty Images)

EVERETT, Wash. – Boeing told its employees on Monday that it plans to cut production of the 777 next year.

Beginning next August, production will be reduced from seven planes a month to five.

Boeing said the cuts will likely mean a reduction in workforce at its Everett plant.

“The 777 program does expect some impact on employment next year,” the company said in a message to its employees. “While the exact number of affected positions has not yet been determined, program leaders will do their best to lessen the impact.”

The Seattle Times reported that Boeing will further cut production to 3.5 jets a mon. When all is said and done, Boeing will have reduced its output from 100 777s a year to 42.