Jan 10 Boeing Co said it will cut a
little more than 40 percent of jobs, or 160 positions, at its El
Paso plant as it looks to reduce the impact of planned U.S.
defense budget cuts.
The company said it will reduce occupied square footage 50
percent at the plant by moving from three buildings to one. The
plant in Texas manufactures electronics for a variety of Boeing
The reductions will be completed by the end of 2014, the
Boeing announced a major restructuring of its defense
division in November that would cut 30 percent of management
jobs from 2010 levels, close facilities and consolidate several
The company's shares closed at $77.09 on the New York Stock
Exchange on Thursday.