Posted on 11/08/2012 9:30:28 AM PST by Red Steel
Boeing announced a major restructuring of its defense division on Wednesday that will cut 30 percent of management jobs from 2010 levels, close facilities in California and consolidate several business units to cut costs.
The company 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.
"We are raising the bar higher because our market challenges and opportunities require it, and our customers' needs demand it," Muilenburg said.
He said the total savings would reach $4 billion, making the company healthier and better able to deal with a tougher marketplace.
He said Boeing would cut the number of executive jobs an additional 10 percent by the end of 2012, bringing overall cuts in its executive team to 30 percent for the past two years, a move that would result in a 10 percent cut in management costs.
Boeing said the changes were not a response to the threat of additional, across-the-board U.S. budget cuts due to take effect on Jan. 2, or the outcome of U.S. elections, but represented another step in its continuing drive to "be more competitive while investing in technologies and people."
Boeing said it could not project exactly how workers would lose their jobs because it would try to place people in its growing commercial business.
Well there’s that news Obama wanted held back until after the election...
This was criminal of Obama to bribe and coerce them to withhold this news until the day after the election. They damn well knew this plan the day before.
Criminal.
Not related to the election...Yea, sure. You annnounce two days later and try to tell us that.
So this was going to happen regardless of who won the election?
Fine. 50% of the country will see soon and very clearly what future it has chosen. Own it.
Just more of Obama’s America in action. It’s also the tip of the iceberg.
“Do not blame Caesar, blame the people of Rome who have so enthusiastically acclaimed and adored him and rejoiced in their loss of freedom and danced in his path and gave him triumphal processions. Blame the people who hail him when he speaks in the Forum of the ‘new, wonderful, good society’ which shall now be Rome’s” ~Marcus Tullius
My county of residence just announced that this October the economy here is worse than it was last October. Based on declining sales tax revenue for this past month over last year’s at this time.
Exactly what Romney/Ryan repeatedly said in the campaign. The economy is not slowly getting better. It did get a little better for a little while, but stretching out the timeline shows that month over month, yr over yr, it’s slowly worsening.
In the case of Lockheed Martin, it was known for a couple of months and notices withheld.
The corruption goes deep.
Hope, hope, hope most are LIBS!
Hope, hope, hope most are LIBS!
In her re-election ads, Sen. Maria Cantwell (D. WA) promised more jobs at Boeing. I’m shocked. /sarc
Notice that Boeing is cutting back in California. The Dem voters of Calfornia passed Proposition 30 which increases taxes on people and corporations. Passing Prop 30 just gives Boeing the incentive to join all the other people and companies who have left taxifornia.
Notice that Boeing is cutting back in California. The Dem voters of Calfornia passed Proposition 30 which increases taxes on people and corporations. Passing Prop 30 just gives Boeing the incentive to join all the other people and companies who have left taxifornia.
Notice that Boeing is cutting back in California. The Dem voters of Calfornia passed Proposition 30 which increases taxes on people and corporations. Passing Prop 30 just gives Boeing the incentive to join all the other people and companies who have left taxifornia.
I bet that most of those soon to be laid off Boeing workers in California are members of the machinist union and voted for 0bama and Jerry Brown’s tax increases. I don’t feel sorry for them if they voted for what they are about to receive.
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