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Technology Stocks : Boeing keeps setting new highs! When will it split? -- Ignore unavailable to you. Want to Upgrade?

To: P.M.Freedman who wrote (2263)	5/14/1999 8:23:00 AM
From: David C. Burns	Read Replies (1) \| Respond to of 3764

Boeing Cutting Up to 7,000 Jobs .c The Associated Press ST. LOUIS (AP) -- Boeing will eliminate 6,500 to 7,000 jobs in St. Louis by 2001 because of a decline in orders for the F-15 fighter plane. The company announced the moves Thursday and said it will consolidate factories that make three planes, including the F-15. The company said it expects the cuts to come from management and union members. ''We knew there would be layoffs, but not of this magnitude,'' said Rick Smith, president of District 837 of the International Association of Machinists & Aerospace Workers. ''When they lost the sales, we all expected something to happen, but not this quickly and not this big. These are all good, relatively high-paying jobs.'' Layoffs of 800 to 900 St. Louis workers were announced earlier. Jerry Daniels, a Boeing vice president, said 300 to 400 workers would be let go every month until the reduction is complete. Last month, the Greek government signed a $3.5 billion contract to buy Lockheed Martin's F-16s instead of the Boeing jets. That order alone could have kept the Boeing line open two more years. Two weeks later, the Israeli government postponed a $2.5 billion purchase of F-15s.