's current financial situation following the company's announcement to lay off 17,000 employees amidst ongoing safety and operational challenges.

During CNBC's "Lightning Round" on Saturday, Cramer voiced his apprehensions about Boeing's stability. "I'm worried...The balance sheet's not great, and they should have raised capital when they had a chance to," he remarked. "This was a very jarring series of news tonight, and I don't have any conviction whatsoever that they are getting this right," he added.

In an email to staff, Boeing CEO Kelly Ortberg disclosed the impending job cuts, which represent about 10% of the overall workforce. These cuts will span across all levels of employment, including executives and managers, and will be implemented over the next several months.

Boeing has been facing a string of difficulties this year. The company grounded its 737 Max planes in January following a mid-flight incident and later in July, admitted guilt in crashes involving the same model in 2018 and 2019, resulting in over 300 deaths.

To make matters worse, Boeing’s Starliner spacecraft experienced technical issues, returning from the International Space Station in September without astronauts on board. Additionally, nearly 33,000 factory workers have been on strike since mid-September, further exacerbating Boeing's predicament.

Ortberg emphasized the necessity of the layoffs to reflect Boeing's current financial condition and future recovery strategy. The delivery schedule for the first 777X airplane has also been pushed back to 2026, according to his memo.