Boeing Satellite Business – To cut hundreds of jobs

Boeing Co. said Monday it had started issuing notices for what could be hundreds of layoffs at its satellite business, a move it blamed partly on the stalled reauthorization of the U.S. Export-Import Bank, which supports many of its sales.

The aerospace giant expects to lay off “several hundred” workers over the coming months and into early 2016, a company spokesman said. Boeing last week confirmed it had lost a satellite deal from Asia Broadcast Satellite because the company couldn’t secure financing.

Chosen excerpts by Job Market Monitor. Read the whole story at Boeing to Lay Off Hundreds of Workers at Satellite Business – WSJ.