Boeing slims down military aircraft business
By AP/St. Louis Public Radio
ST. LOUIS –
Boeing is slimming down its military aircraft business and cutting workers as the government moves to cut defense spending.
The airplane manufacturer will consolidate six divisions into four.
Boeing Co. will cut jobs, starting with 10 percent of the group's executives. The company is not saying how many more workers will lose jobs in the coming months.
Boeing said in July that layoffs were likely because of expected government spending cuts. Revenue and profit both fell in Boeing's defense business in the most recent quarter.
Starting Oct. 1, the four new divisions will be St. Louis-based global strike; Ridley Park, Pa.-based mobility; Seattle-based surveillance and engagement; and St. Charles, Mo.-based missiles and unmanned airborne systems.