Boeing to cut defense budget mostly from supply chain

Boeing (NYSE:BA) continues to face large spending cuts from the U.S. government, with the latter's defense budget falling nearly 24% due to sequestration.

The company has already cut $4B in costs from its defense unit and plans to cut an additional $2B.

"Out of the $6B, probably 66% of that will come out of the supply chain, maybe more," says Chris Chadwick, CEO of Boeing Defense, Space and Security.

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Comments (3)
  • Tschurin
    , contributor
    Comments (381) | Send Message
    According to the Congressional Budget Office, the DOD's spending year-to-date has fallen only 6%, not 24%. Homeland security spending has fallen 28%, "mostly because outlays for flood insurance and disaster relief were smaller than they were in the first 10 months of fiscal year 2013."
    12 Aug 2014, 08:30 AM Reply Like
  • june1234
    , contributor
    Comments (4406) | Send Message
    what does flood insurance have to do with homeland security. I thought they were created to chase terrorists
    12 Aug 2014, 08:44 AM Reply Like
  • Charles L. Hagen Jr.
    , contributor
    Comments (2) | Send Message
    Yep, just like us capitalists. You should catch up on what DHS does for fun.
    17 Aug 2014, 02:25 PM Reply Like
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