Published November 07, 2012
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 ahead of the planned announcement set for later Wednesday, a copy of which was reviewed by Reuters.
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 document. (Reporting By Andrea Shalal-Esa; Editing by Alwyn Scott and Maureen Bavdek)