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Thread: Boeing Announces Big Layoffs in Defense Division

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    Re: Boeing Announces Big Layoffs in Defense Division

    Quote Originally Posted by Fishstyx View Post
    Likely to grow as they start to plan for the implementation of Obamacare as well as future tax expenses grow. I've talked to couple friends that own construction oriented companies and they've had several big jobs (large scale home renovations) cancel in the last 48 hours.
    Agree it will grow but I think it is the fiscal cliff. Boeing, for instance, absorbed McDonnell Douglas' military contracting business; Corning,which has been struggling, makes a lot of custom manufacturing for the government; and the like.

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    Re: Boeing Announces Big Layoffs in Defense Division

    Quote Originally Posted by DrunkenAsparagus View Post
    This is unfortunate for the employees of Boeing. I hope that they and the surrounding community find other ways to be economically productive. However, this isn't a bad thing overall. Boeing's consolidation allows more capital to be used in more productive ways. That's how capitalism works, there is success, but failure is a critical part of the system.

    Now I can't wait for the conservative defense hawks to complain about the economic impact of lowering defense spending. The same people who dismiss Keynesian economics and the "energy socialism" of the Obama administration will get in a huff over multipliers, Keynesian crosses, and [taxpayer supported] jobs whenever there is talk of trimming the Pentagon's budget. When it come to defense, why do so many conservatives suddenly become fans of big government?
    Say what ??? In todayís economy the loss of jobs like those at Boeing isnít a bad thing? Is it any wonder why I personally have come to despise liberals?

    We have an economy that is shedding good paying jobs faster then they can be replaced, we have overloaded ourselves with debt, we have still near 8% unemployment, middle class is failing badly.

    At this time right now, when every well paying job is needed, when good paying jobs are so hard for so many Americanís to find. We has someone saying Boeing laying off people is a good thing? In my opinion that is just a plain asinine thing to say. Itís bad enough in good times to know that people are losing jobs to support their family .. but in times like these when those same people will find it hard if not impossible to find a job that pays the same sort of wages Ö itís just plain stupid.

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    Re: Boeing Announces Big Layoffs in Defense Division

    Quote Originally Posted by The Barbarian View Post
    Say what ??? In today’s economy the loss of jobs like those at Boeing isn’t a bad thing?
    This is hardly a lefty theory. When capital is being used inefficiently, it is taken and moved to somewhere else where it can be more useful. Every dollar that Boeing wastes is a dollar that could be used to invest in something far more economically efficient, creating far more jobs. It's called creative destruction, and it is how capitalism works.

    Quote Originally Posted by The Barbarian View Post
    Is it any wonder why I personally have come to despise liberals?
    Does anyone actually bother to read? I'm not a liberal.

    Quote Originally Posted by The Barbarian View Post
    We have an economy that is shedding good paying jobs faster then they can be replaced, we have overloaded ourselves with debt, we have still near 8% unemployment, middle class is failing badly.

    At this time right now, when every well paying job is needed, when good paying jobs are so hard for so many American’s to find. We has someone saying Boeing laying off people is a good thing? In my opinion that is just a plain asinine thing to say. It’s bad enough in good times to know that people are losing jobs to support their family .. but in times like these when those same people will find it hard if not impossible to find a job that pays the same sort of wages … it’s just plain stupid.
    Truly sustainable economic growth and prosperity does not come from propping up unproductive jobs. It comes from rising productivity and capital moving to where it needs to. If good paying jobs was all that was needed for economic growth, why not simply hire these people to dig up holes and fill them back up again? The workers losing their jobs is an unfortunate short-run consequence, but in the long-run this shift will make everyone, including most of the the Boeing workers better off.
    Last edited by DrunkenAsparagus; 11-09-12 at 01:00 AM.
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    Re: Boeing Announces Big Layoffs in Defense Division

    Quote Originally Posted by katsung47 View Post
    More bad news to come.
    I read about this several weeks ago...scuttlebut...not a major news source. The article (a bunch of them) said the layoffs were coming but the White House asked them to wait until after the election. Apparently there's some fine to be paid if they don't announce it in enough time. The article back then said that the White House told Boeing the fine would be waived.

    I think there's a thread or two on DP about it. That may have been where I read it.
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    Re: Boeing Announces Big Layoffs in Defense Division

    Quote Originally Posted by MaggieD View Post
    I read about this several weeks ago...scuttlebut...not a major news source. The article (a bunch of them) said the layoffs were coming but the White House asked them to wait until after the election. Apparently there's some fine to be paid if they don't announce it in enough time. The article back then said that the White House told Boeing the fine would be waived.

    I think there's a thread or two on DP about it. That may have been where I read it.
    ACtually if anyone bothers to read the article, boeing is merely following thru on a cost cutting program it started two years ago. this year they are cutting an additional 10% of management jobs to bring the total management job cuts to 30%.

    the dely in layoffs that the obama administration requested had to do with the sequestration cuts and that there is a law that defence contractors must give x months notice of layoffs if those workers are working on defence contracts. That is a seperate thing from this story.
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    Re: Boeing Announces Big Layoffs in Defense Division

    Not surprising. There's some unease at the Defense Contractor my wife works for (DynCorp Intl.) and the word going around their office was that Lockheed Martin would be sending pink slip notifications soon to a large number of employees.

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    Re: Boeing Announces Big Layoffs in Defense Division

    Quote Originally Posted by Jonsa View Post
    the dely in layoffs that the obama administration requested had to do with the sequestration cuts and that there is a law that defence contractors must give x months notice of layoffs if those workers are working on defence contracts. That is a seperate thing from this story.
    Yes, you've reminded me. You're exactly right.
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    Re: Boeing Announces Big Layoffs in Defense Division

    Quote Originally Posted by Jonsa View Post
    ACtually if anyone bothers to read the article, boeing is merely following thru on a cost cutting program it started two years ago. this year they are cutting an additional 10% of management jobs to bring the total management job cuts to 30%.

    the dely in layoffs that the obama administration requested had to do with the sequestration cuts and that there is a law that defence contractors must give x months notice of layoffs if those workers are working on defence contracts. That is a seperate thing from this story.
    No kidding...I know all that.

    My point was the timing - not the actual layoffs.

    If you are going to tell me that there is no chance that the Obama Administration asked Boeing to delay the announcement until after the election - then I will call you very naive.

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    Re: Boeing Announces Big Layoffs in Defense Division

    Quote Originally Posted by Zyphlin View Post
    Not surprising. There's some unease at the Defense Contractor my wife works for (DynCorp Intl.) and the word going around their office was that Lockheed Martin would be sending pink slip notifications soon to a large number of employees.
    I'm starting to wonder if they're gonna just let sequestration go through.

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    Re: Boeing Announces Big Layoffs in Defense Division

    Quote Originally Posted by DA60 View Post
    No kidding...I know all that.

    My point was the timing - not the actual layoffs.

    If you are going to tell me that there is no chance that the Obama Administration asked Boeing to delay the announcement until after the election - then I will call you very naive.
    I'm telling you that they didn't delay it. Its part of a continuing program that started 2 years ago.
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