Northrop set to cut jobs, restructure
Article Abstract:
Northrop Grumman Corp. has announced that it is planning to eliminate an additional 6,200 jobs as part of a massive restructuring of the company that is aimed at saving about $300 million annually in operating costs and raising profit margins. Northrop, which also is planning to take a $60 million charge later in the year, wants to focus on its expanding information-technology and traditional military-electronics units while cutting back on its aircraft production operations, including the B-2 bomber.
Comment:
Has announced that it will eliminate an additional 6,200 jobs as part of a massive restructuring plan
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
FAA to require Boeing jets to be inspected
Article Abstract:
The FAA has decided to make a safety inspection of certain models of Boeing 737, 747, 757, 767, and 777 jetliners, due to the discovery of loose rudder bolts during spot inspections and two instances of rudder malfunction during flight. Boeing voluntarily urged inspections of these rudder pedal assemblies, and has modified the assemply procedures and design of these parts. The FAA has not found any significant safety issues, and will not penalize the company as a result of the inspection.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Boeing Co. to phase out production of MD-11 aircraft over next 20 months
Article Abstract:
Boeing Co. announced that it will phase out production of its MD-11 widebody aircraft over the next 20 months. Many employees who now work on the project will be transferred to the company's Long Beach, CA plant. The decision to discontinue this product was prompted by limited demand. This is the third time that Boeing has discontinued a product it acquired through its acquisition of McDonnell Douglas Corp.
Comment:
Announced that it will phase out production of MD-11 widebody aircraft over the next 20 months
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Campuses are turning to laptops for students. Ascend plans to acquire stratus for $822 million
- Abstracts: Africa acts as magnet to Australian miners. Unmaking the monster. Pioneer open to takeover, if it benefits shareholders
- Abstracts: Court spells out rules for finding sex harassment. In his opinion. Lives of the judges
- Abstracts: Boeing plan to cut jobs hits Seattle area like a chill wind. Jobs soared by almost 300,000 as U.S. boom continues in May
- Abstracts: Bill would allow foreign banks in Del. Home sales strong, despite a dip