Boeing shakes up shrinking defense business

Boeing shakes up shrinking defense business

Credit: Getty Images

CHICAGO - JANUARY 28: A sign hangs above the entrance to The Boeing Company's headquarters on January 28, 2009 in Chicago, Illinois. Today Boeing reported a fourth-quarter loss, followed by a lower than expected 2009 forecast, and an announcement it would cut 10.000 jobs. (Photo by Scott Olson/Getty Images)

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by Associated Press

kgw.com

Posted on November 7, 2012 at 3:32 PM

CHICAGO -- Boeing is shaking up its shrinking defense division, putting some executives into new roles and reducing the number of managers.

Boeing makes military helicopters and planes, in addition to commercial jets used by airlines. The commercial airplane business has been expanding. But the defense business is suffering because of tight government spending in the U.S. and other countries.

Boeing says it is reducing defense executives by 30 percent from 2010 levels. Spokesman Todd Blecher says much of that has already happened, and the last 10 percent of the cuts will come by the end of the year. On Wednesday, Boeing reassigned several defense executives.

Boeing says it has cut defense facilities by 10 percent "and is looking for more over time." It did not say which facilities will be affected.;

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