Boeing Shows Depths of Crisis With Cuts Near for Prized 787 Jet

Boeing Co. is poised to cut 787 Dreamliner output by about half and announce workforce reductions when it reports first-quarter earnings next week, said people familiar with the plans.

Details of the production changes for Boeing’s commercial lineup are still being finalized and will determine the number of jobs to be eliminated through layoffs and buyouts, said the people, who asked not to be named as the discussions are confidential. The planemaker plans to lower the Dreamliner’s monthly output, which began the year at 14 jets, to a single-digit rate.

Dave Calhoun, Boeing’s chief executive officer, hinted that painful ...