It’s a hard time for finances in America. For 17,000 people, it’s about to get a lot harder, as Boeing just announced a mass layoff of its massive workforce.

As the Boeing factory workers’ strike has been ongoing for over a month, with no resolution in sight, the company is having to make some drastic changes, and fast.

The start of these drastic changes is cutting 10 percent of its job force, or about 17,000 jobs.

Imagine an entire NBA basketball arena, averaging 18,000 seats, filled to the top with a sold-out crowd, cheering for their team to win a championship.

Now imagine having to tell every single one of those people that their job is no more, and they must find a new way to provide for their families. Not a good thought, but that’s the stark reality for the workers at Boeing.

Boeing CEO Kelly Ortberg stepped up to the podium to deliver the news. He said, “Our business is in a difficult position, and it is hard to overstate the challenges we face together.”

Ortberg continued, “Restoring our company requires tough decisions and we will have to make structural changes to ensure we can stay competitive.”

This is a huge move for Ortberg, as he has only been CEO for a few months and was brought in to fix the airline’s problems.

According to CNBC, Boeing is losing more than $1 billion a month from the strike of more than 30,000 machinists, which began Sept. 13.

It’s easy to see why Boeing needs to cut these jobs, but that doesn’t make the pill any easier to swallow for those affected.