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Boeing Announces Additional Layoffs in St. Louis

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Pentagon budget cuts is leading The Boeing Co. to make additional layoffs at its defense unit in St. Louis.

The St. Louis Business Journal reports Chairman and Chief Executive Jim McNerney made the announcement in a conference call with analysts and investors on Wednesday. The number of layoffs at the Hazelwood facility was not specified. According to the report, Boeing previously issued 60-day layoff notices to 1,020 employees in February that included some in St. Louis.

Boeing, which reported an 8 percent drop in revenue in the second quarter, has suffered largely because of a $160 billion overhaul of the U.S. Army’s land warfare weapons program, the St. Louis Business Journal reports.

Boeing’s Defense, Space & Security division is one of the largest employers in St. Louis with 16,000 workers locally and 68,000 employees worldwide.

Boeing Announces Additional Layoffs in St. Louis by
Authored by: Harrison Barnes