Now, I’m certain that this has nothing to do with the fact that election day just passed, but according to Fox News, defense contractor Boeing has begun sending pink slips to 30% of their management staff;
Boeing, the Pentagon’s second-largest supplier, said it also will close some facilities in California and consolidate several business units in an effort to trim $1.6 billion in costs by the end of 2015, on top of $2.2 billion in reductions achieved since 2010.
“We are raising the bar higher because our market challenges and opportunities require it, and our customers’ needs demand it,” Dennis Muilenburg, chief executive of Boeing Defense, Space & Security, told employees in a message obtained by Reuters and confirmed by Boeing.
He said the total savings of $4 billion would make the company healthier and better able to deal with an increasingly complex and challenging marketplace.
Of course, there were rumors of this before the election, but the Obama Administration used it’s influence to wait until after election day for the announcement so as not to damage the positive, but false message that the economy is improving. You know, like the Labor Department padding the unemployment numbers in the weeks before the election. Kind of like that. It looks like Boeing expects sequestration to happen, not like the Obama Administration has been telling us in the past few weeks.