Huffpost Business

Boeing To Lay Off 510 Workers As Shuttle Program Ends

Posted: Updated:
BOEING JOBS
Print

(Reuters) - Boeing Co (BA.N) will lay off about 510 employees in its Space Exploration division as the United States' space shuttle program draws to a close.

There will no material impact on the company as a result of the job cuts, a spokesman for Boeing's Space Exploration division told Reuters.

The last workday for workers is scheduled to be August 5, pending completion of the final shuttle mission, the company said in a statement.

The United States is retiring its three-ship fleet due to high operating costs and to free up funds to develop new spacecraft that can travel beyond the space station's 220-mile-high (346-km-high) orbit.

Earlier this week, space shuttle Endeavour touched down at its Florida home base, ending the next-to-last mission in the space shuttle program.

Shuttle Atlantis is slated to launch on July 8 on NASA's final planned shuttle mission.

Shares of the Chicago-based Boeing closed at $74.84 on Friday on the New York Stock Exchange.

(Reporting by Abhishek Takle in Bangalore, Editing by Jonathan Thatcher)

Copyright 2010 Thomson Reuters. Click for Restrictions.

Around the Web

Boeing workers prepare to fight for work on next 737 | Reuters

Boeing Workers Fight For Work On Next 737

3 SC Boeing employees want to take part in suit

Boeing Announces Workforce Reductions in Space Exploration Division

Boeing gets GOP backing for union bashing