Boeing starts layoffs
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.
November 8th, 2012 at 9:54 am
Shocking!!!
I’m startled, too. This is only the beginning, since by law, they were supposed to have sent out notices back on the 1st, and Boeing isn’t the only one that is going to be sending out the notices.
November 8th, 2012 at 10:03 am
I was looking for something about that on the local news, but haven’t seen it yet. I’ll keep looking.
Boeing has its headquarters in Chicago, in a very pretty building conveniently near the train station.
November 8th, 2012 at 11:04 am
I notice gas prices are up about $.20/gallon as well.
November 8th, 2012 at 11:16 am
Hey now, here in the new USSA the news reports what our Dear Leader wants them to report….
Like this little Gem I found on Drudge.
http://www.reuters.com/article/2012/11/07/us-arms-treaty-un-idUSBRE8A627J20121107
November 8th, 2012 at 11:20 am
I like this part:
An official at the U.S. mission said Washington’s objectives have not changed.
“We seek a treaty that contributes to international security by fighting illicit arms trafficking and proliferation, protects the sovereign right of states to conduct legitimate arms trade, and meets the concerns that we have been articulating throughout,” the official said.
“We will not accept any treaty that infringes on the constitutional rights of our citizens to bear arms,” he said.
Remember that. Burn that into your brains now. It has come down from on high.
November 8th, 2012 at 11:23 am
Yea, just like in 1984, up means down and left means right. Oh and 2+2=5
November 8th, 2012 at 11:57 am
Yeah I noticed that gas prices dropped significantly right before the election and is now rising again. Oh and there is this little gem.
http://finance.yahoo.com/blogs/daily-ticker/obama-wins-2012-election-why-taxes-going-182808294.html
November 8th, 2012 at 12:25 pm
Wonder if Boeing is regretting moving out of Wichita.
November 8th, 2012 at 12:45 pm
Have to wonder of this is in part as well to the good folks of CA deciding everyone needs to pay more tax, good luck attracting business with that.
November 9th, 2012 at 3:46 am
I thought it was interesting that the DOW dropped 300+ points, until I read that in the 48 hours after 2008′s election it dropped over 800+. Ebb and flow I guess. We’ll bounce back eventually. (I hope!)