Boeing Confirms Plans to Cut 1,000 Jobs

Boeing Co. said it will eliminate 1,000 jobs from its satellite manufacturing arm in Southern California, about 11% of the work force, as it restructures to deal with tough competition in the uncertain economy.

The cuts, which had been reported by The Times, come four months after Boeing cut 400 other jobs at the satellite division because of a slowdown in the telecommunications industry.

Chicago-based Boeing had previously said it would cut as many as 30,000 jobs nationwide by the end of the year.

The new round of cuts includes reductions in manufacturing and support staff along with some engineering positions at Boeing facilities in El Segundo and Torrance, said company spokesman George Torres.

As many as 350 of the new cuts could be achieved by reassigning affected workers to current openings and encouraging others to retire early, Torres said.

Boeing acquired the satellite business, which employs about 9,200 people, last year. The unit is the world’s largest producer of satellites for military and commercial markets.

Torres said Boeing remains committed to expanding its satellite business.

The company intends to proceed with plans for a 35,000-square-foot addition to its El Segundo satellite factory and continue pursuing new military business that could create about 1,300 new jobs by 2005.

Shares of Boeing rose 90 cents to close at $44.21 on the New York Stock Exchange.