Article Image
News Link • Economy - Economics USA

Boeing Announces Big Layoffs in Defense Division

The company [BA  70.98    0.87  (+1.24%)   ] told employees about the changes on Wednesday, in a memo obtained by Reuters and confirmed by Boeing.

Boeing, the Pentagon's second-largest supplier, said the changes were the latest step in an affordability drive that has already reduced the company's costs by $2.2 billion since 2010, according to the memo.

The measures come as U.S. weapons makers are under pressure to cut costs and preserve profit margins amid dwindling defense spending in the U.S.

In a message to employees, Dennis Muilenburg, chief executive of Boeing Defense, Space & Security, said the company aimed to cut costs by an additional $1.6 billion from 2013 through 2015.


Join us on our Social Networks:


Share this page with your friends on your favorite social network: