Boeing has reported a loss of $US56 million ($84.3 million) in the fourth quarter as the aerospace giant announced it would slash its workforce by 10,000 this year.

The loss was largely the result of a machinists' strike and costs to redesign its 747 freighter aircraft, but Boeing said it must tighten its belt in the face of a difficult global economy.

"The global economy continues to weaken, and it's affecting air traffic and financing," CEO Jim McNerney said after the aerospace giant released its quarterly results.

"We must prepare the company, including being more aggressive in terms of productivity."

He said the 10,000 cuts would be made "through attrition, retirement and layoffs," and included a figure announced earlier of 4,500 in the commercial aircraft division.

The loss marked a sharp turnaround from a profit of $US1.03 billion in the same period a year earlier. Revenues in the quarter fell 27 per cent to $US12.7 billion.

The operating loss amounted to $US205 million.

For the full year of 2008, profits fell 34 per cent to $US2.7 billion and revenue fell 8 per cent to $US60.9 billion.

Boeing said its results were hit by the strike, the 747 charge, litigation costs and other charges.

"The progress we made in many areas of Boeing during 2008 was outweighed by the impact of the strike and our performance on some key development programs," said Mr McNerney in a statement.

"Our imperative going forward is improving execution where it needs to be improved, maintaining strong performance across all our production programs, and preserving our financial strength to grow in these challenging economic times."

Boeing's 27,000 machinists, representing 16 per cent of the company's work force, walked off the job on September 6 in a dispute over new contracts, causing delays in production and deliveries.

The 58-day strike ended November 2 but cost the firm billions of dollars.

Boeing said the strike lopped off an estimated profit of $US760 million in the quarter, or $US1.09 per share, and revenues fell by $US4.8 billion as the strike pushed airplane deliveries out of the quarter.

In 2008, Boeing fell behind its longtime European rival Airbus in orders and deliveries.

Airbus took 777 orders and made 483 deliveries while Boeing reported 662 orders and 375 deliveries.

But both firms see troubles ahead amid a deepening global economic slump.

- AFP