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.
Cut management jobs? Screw em'. (not union).
A Las Vegas business owner with 114 employees fired 22 workers today, apparently as a direct result of President Obama’s re-election.
(said the owner) the regulations for Obamacare are gonna hurt our business, and I’m gonna have to make provisions to make sure I have enough money to cover the payroll taxes, the additional health care I’m gonna have to do
Senate Majority Leader Harry Reid (D-Nev.) said on Wednesday that if the $16.394 trillion current legal limit on the federal government's debt must be raised in the next few months by another $2.4 trillion, “We’ll raise it."
That would set the debt limit at $18.794 trillion.
Forward, people, forward. Did they pass a budget yet?
<Edit> Forgot to mention, the Air Force base very near where I live saw a 300 person job loss yesterday with the discontinuation of a program there. The local papers stated that expected increases in funding will not be coming. So there's another 300 to sign up for unemployment and food stamps. WooHoo!