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Boeing Co To Consolidate El Paso Facilities, Reduce Workforce To Ensure Competitiveness

Thursday, 10 Jan 2013 04:40pm EST 

Boeing Co announced that it will consolidate its El Paso facilities and reduce the workforce there by the end of 2014. The move is part of the Company's strategy to increase affordability for government customers and become more competitive in an increasingly global marketplace. The 370 workers at the site manufacture electronics for a variety of Boeing products. Anticipated U.S. defense budget cuts likely will mean less demand for these items. Therefore, Boeing will reduce occupied square footage 50% by moving from three buildings into one, and will reduce employment by up to 160 positions. 

Company Quote

-0.74 -0.57%
22 Sep 2014