It Starts: Boeing Announces Big Layoffs

They waited until the day after the election to make the announcement — what a happy coincidence for Obama:

Boeing announced a major restructuring of its defense division on Wednesday that will cut 30 percent of management jobs from 2010 levels, close facilities in California and consolidate several business units to cut costs.

Boeing, the Pentagon’s second-largest supplier, said the changes were the latest step in an affordability drive that has already reduced the company’s costs by $2.2 billion since 2010, according to the memo.

The measures come as U.S. weapons makers are under pressure to cut costs and preserve profit margins amid dwindling defense spending in the U.S.

And if they’re cited for violating the WARN Act, who cares? You and I will pay the fine.

In the previous post I mentioned how Obama had created a “win-win” for rich people who pledged their support, and here’s People’s Exhibit A of what will be thousands of examples in the coming months and years.

(h/t Michelle)