Raising 737 MAX output has been viewed by investors as central to Boeing's revenue and profit growth after a long period of financial losses due to safety problems. (EPA Images pic)NEW YORK: Boeing will cut about 5% of its commercial plane workforce as it moderates the pace of ramping up jet production, the company said Monday.

The company will eliminate the posts through a mix of layoffs and attrition because of a slower ramp-up to "provide our factories and supply chain partners additional time to achieve stability," said a message to employees from Boeing commercial chief Stephanie Pope.

"Adjusting our production schedules and reducing aircraft output puts us in an overstaffed position," she added.