Boeing to cut 500 jobs in defence and space unit | Reuters

Boeing Co (BA.N), the world's biggest planemaker, said on Tuesday that it would cut 500 jobs over four years and shut two plants as it revamps its defence and space unit.

Reuters November 16, 2016 03:30:10 IST
Boeing to cut 500 jobs in defence and space unit
| Reuters

Boeing to cut 500 jobs in defence and space unit
 Reuters

Boeing Co (BA.N), the world's biggest planemaker, said on Tuesday that it would cut 500 jobs over four years and shut two plants as it revamps its defence and space unit. The company, which is shutting plants in El Paso, Texas and Newington, Virginia, said some jobs in Huntington Beach plant would move to El Segundo, Long Beach, and Seal Beach in Southern California.Boeing also said many positions in Kent, Washington will move to nearby Tukwila.The company said about 1,600 positions will move to Los Angeles County, California; 500 to St. Louis, Missouri and about 400 to Huntsville, Alabama as part of the consolidation. (bit.ly/2fuDKh2)

The changes related to job cuts and the consolidation were not material, a Boeing spokesman told Reuters.

The company also said it would create a new global operations group that would include its defence units in Australia, Saudi Arabia, and UK. The unit will he headed by David Pitchforth, managing director of the company's UK defence unit. Boeing's defence, space and security business, which had about 48,000 employees as of Oct. 27, accounted for 31.4 percent of the company's total revenue of $23.9 billion in the latest quarter.

(Reporting by Ankit Ajmera and Arunima Banerjee in Bengaluru; Editing by Anil D'Silva)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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