The Traderszone Network

Published in TZ Latest News 24 August, 2015 by The TZ Newswire Staff

Exclusive: Boeing eyes ‘several hundred’ layoffs in satellite division

Boeing Co (BA.N) on Monday told its workers that it expected to cut as many as “several hundred” jobs in its satellite business through the end of 2015 due to a downturn in U.S. military spending and delays in commercial satellite orders. Multiple commercial orders were being delayed by recent failures of launch vehicles and uncertainties about the future availability of financing from the U.S. Export-Import Bank, whose government charter lapsed on June 30, the company told key managers in an internal communication.

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