Boeing Joins Supplier Rockwell Collins in Cost Cuts
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Boeing Co. plans to almost double a $2.2 billion cost-saving program as Pentagon spending declines, while supplier Rockwell Collins Inc. said it will revise its health-care benefits next week, adding to job losses.
Boeing Co.’s defense unit, the second-largest military contractor in the U.S., is looking for another $1.6 billion in savings through 2015, division chief Dennis Muilenburg told employees in a memo yesterday. The company plans to sell buildings, consolidate management and internal organizations, and press suppliers for savings, among other measures.