Hazelwood Boeing Defense Unit to Quicken Cost-Cutting Pace

Photo courtesy of wikicommons

Boeing Co 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.

Read more on Reuters.

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