Boeing plans to cut as many as 160 jobs in El Paso
January 10, 2013 5:28PM
Updated: January 15, 2013 9:08PM
Boeing Co. said Thursday that it will eliminate as many as 160 jobs at a facility in El Paso, Texas, as it prepares for cuts in the U.S. defense budget.
Boeing said it has 370 employees at the El Paso site. They make electronics for a variety of Boeing products, and the company thinks demand for those products will fall because of expected defense budget cuts.
The Chicago company said employees whose jobs are eliminated will get help finding new jobs at Boeing or elsewhere, as well as financial counseling and retirement seminars. It plans to complete the moves by the end of 2014.
Boeing said it will consolidate its operations in El Paso into one building from three.
Boeing has around 60,000 employees, including more than 6,000 in Texas.
Boeing shares rose 33 cents to close at $77.09.