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Boeing Announces Big Layoffs in Defense Division

katsung47

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Boeing Announces Big Layoffs in Defense Division
Published: Wednesday, 7 Nov 2012

Boeing announced a major restructuring of itsdefense division on Wednesday that will cut 30 percent of management jobs from2010 levels, close facilities in California and consolidate several businessunits to cut costs.

http://www.cnbc.com/id/49729998

More bad news to come.
 
I have seen a list of about 20 recognizable big name companies that have announced layoffs in the last 48 hours.
 
nothing new. This stuff happens in cycles.

Yeah says the apologist. You didn't read the articles about this did you?
 
More bad news to come.

But how can this be? HOJ and a few others have told us time and again that California is doing just fine, their employment picture looking rosier.</sarcasm>
 
I have seen a list of about 20 recognizable big name companies that have announced layoffs in the last 48 hours.

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.
 
Announced the day after the election?

Coincidence?
 
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?
 
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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.
 
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 today’s economy the loss of jobs like those at Boeing isn’t 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 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.
 
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.

Is it any wonder why I personally have come to despise liberals?

Does anyone actually bother to read? I'm not a liberal.

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.
 
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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.
 
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.
 
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.
 
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.
 
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.
 
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.
 
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.
 
Boeing and Lockheed Martin (2 customers of ours) are the depiction of largess. Their managers will hire crews of managers to be under them so that all they have to do is go to meetings and play golf.

Too many Chiefs for the number of Indians.
 
I'm telling you that they didn't delay it. Its part of a continuing program that started 2 years ago.

Okay - fine.

And just as soon as you provide me a link that shows documented proof that the date for the latest layoff was set 2 years ago...then I will believe you.

And not 'sometime in November'. But on 'November 7'.

Otherwise, I will assume that there is a good chance someone in the Obama admin. asked Boeing to delay this 'scheduled' layoff for the day after the election.
 
Obama is going to gut our nation's defense, he's going to raise taxes to put all the companies out of business, and he's going to take all our guns away.

A big thank you to the foolish liberal Democrats who put Obama back in the White House.
 
Very unfortunate for the employees! Sounds like they were very good jobs. I believe it will be very difficult for them to find comparable jobs.

The day after the election is interesting. Any theories?

They may have planned the cuts but, it was certainly not a coincidence even though they claimed it had nothing to do with the election or potential cuts in the military budget.

1. They wanted to be neutral as it relates to the political ramifications?

2. They held off until after the election in support of Obama so not to allow Romney to take advantage of the announcement.

3. They held off until the day after the election to send a message.

My picks in order of the most likely.

Any other ideas?
 
Very unfortunate for the employees! Sounds like they were very good jobs. I believe it will be very difficult for them to find comparable jobs.

The day after the election is interesting. Any theories?

They may have planned the cuts but, it was certainly not a coincidence even though they claimed it had nothing to do with the election or potential cuts in the military budget.

1. They wanted to be neutral as it relates to the political ramifications?

2. They held off until after the election in support of Obama so not to allow Romney to take advantage of the announcement.

3. They held off until the day after the election to send a message.

My picks in order of the most likely.

Any other ideas?

2, 1 and 3.

Since a large part of Boeing's income comes from the government and they did not want to piss off Obama were he re-elected (which he was expected to do just before the election). I think it's most likely that they volunteered to Obama that they will delay the layoffs until after the election.
 
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