Boeing is cutting production of some jets next year because of weak market conditions amid the global economic slowdown.
Boeing, the world's second largest plane maker, has been hit by dramatically lower orders for commercial jets this year as the global economic slowdown intensifies and air travel wanes.
Airlines have cut flights and some carriers have delayed orders and deliveries of new jets.
The Chicago-based company says monthly production of its 777 will decline to five planes from seven starting in June 2010.
The company will also delay earlier plans to slightly increase production of its 747-8 and 767 planes.
It said the lower production rate and weaker expected prices will cut first-quarter earnings by about 38 US cents per share.
Industry-watchers have been expecting production cuts at Boeing and rival Airbus, for some time due to the economic conditions.