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Boeing to lay off workers in El Segundo satellite division

Boeing to lay off workers in El Segundo satellite division

Aerospace giant Boeing Co. said Tuesday that it plans to lay off as many as several hundred employees at its Southern California-based satellite division. Boeing said the cuts were needed after a customer could not get financing through the Export-Import Bank and canceled an order for a pricey satellite. At the same time, recent rocket failures have delayed the start of work on other satellite orders, the company said, and the division has suffered as the Pentagon continues to reduce spending. Most of the affected employees work in El Segundo, where the aerospace firm operates a large satellite factory, Boeing spokeswoman Linda Taira said. SIGN UP for the free California Inc....

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