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Boeing Co Shakes Up Defense Business, Cuts Management Jobs-Reuters

Wednesday, 7 Nov 2012 05:53pm EST 

Reuters reported that Boeing Co said on November 07, 2012 it will restructure its defense, space and security business and cut 30% of management jobs from 2010 levels as part of a broad cost-cutting drive. The Company said it also will close some facilities in California and consolidate several business units in an effort to trim $1.6 billion in costs by the end of 2015, on top of $2.2 billion in reductions achieved since 2010. Muilenburg said Boeing Co would trim executive jobs in its defense business by an additional 10% by the end of 2012, eliminating many vice president and director-level jobs and resulting in a 30% overall cut in executive jobs over the past two years. Boeing Co said it could not project exactly how many workers would lose their jobs because it would try to place people in its growing commercial business or other areas. Boeing Co plans to merge its current mobility division with a separate surveillance business. It also said it would consolidate its missiles and unmanned airborne systems, while weapons programs such as the small diameter bomb would shift to the global strike business. Boeing also planned to merge its electronic and missions systems business with a separate unit focused on information solutions to create a leaner operation. The Company said it would further cut facilities, which are already down 10% since 2010, including two sites in Seal Beach, California, and other locations in the state. 

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11 Jul 2014