Boeing restructuring

Boeing is restructuring its defense, space and security businesses with plans to reduce management positions 30 percent and close and consolidate several facilities in California. It's an effort to cut $1.6 billion in costs by the end of 2015 and stay competitive. The company says the change is not directly related to sequestration or the presidential election. (Source: Reuters, 11/07/12) Gulf Coast note: Boeing has operations along the Gulf Coast.