Boeing to Slow Work on Tanker, Cut Staff
Boeing Co. said it would slow development work on an $18-billion U.S. aerial refueling tanker deal and fire up to 150 workers as a result of government reviews of the program.
Chicago-based Boeing will fire about 100 contract employees in Wichita, Kan., is sending layoff warning notices to 50 workers in the Puget Sound area of Washington and plans to reassign about 600 others, the company said.
In the process, Boeing will cut its spending on the U.S. Air Force tanker program to $5 million a month from $30 million, a spokeswoman said.
Boeing shares fell 18 cents to $44.34 on the New York Stock Exchange.
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