Boeing to slash 50 exec jobs at defence unit

Dhaka,  Fri,  21 July 2017
Published : 14 Jun 2017, 11:47:34 | Updated : 14 Jun 2017, 11:56:32
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World's largest plane maker Boeing to lay off 50 executives at its defence unit

Boeing Co said on Tuesday it would cut about 50 executive positions as it plans to restructure its defence, space, and security (BDS) division into smaller units. The world's largest plane maker says it seeks to make its business more responsive to customers.

The business, which accounted for nearly a third of the company's total revenue in 2016, will be divided into seven units, instead of the present five. All will report to BDS Chief Executive Leanne Caret, reports Reuters.

The executives to be cut represent a layer of middle management in between senior officials and each individual business unit.

Caret told Reuters the restructuring will make the business faster and help Boeing better anticipate the needs of defense customers.

"Customers have "a desire to move fast, and we need to be part of the solution," she said.

Boeing's defence arm sells a variety of military equipment including jet fighters, missiles, and unmanned underwater vehicles to the United States and its allies.

Boeing's military aircraft business, part of the BDS unit, will be rearranged into three smaller segments: autonomous systems, strike surveillance and mobility, and vertical lift.

Boeing said its network and space systems business, also part of the BDS unit, will be reconstituted as space and missile systems. The business will be led by Jim Chilton.

The business makes satellites and other space and intelligence systems, and includes its joint venture operation with Lockheed Martin Corp - United Launch Alliance.
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