SEAL BEACH, Calif., Nov. 9 (UPI) -- As Southern California's defense industry shrinks with the reduction in federal military spending, Boeing Corp. announced cuts in its local workforce.
Among the largest employers in the region, Boeing said it is reducing its executive workforce in the area by 30 percent from 2010 levels, will sell office buildings in Seal Beach, Calif., and demolish a building in Huntington Beach. It has already sold property in Anaheim, the Los Angeles Times reported Friday.
The reductions are being made in anticipation of U.S. military spending expected to decline by $487 billion over the next decade.
With more than 19,000 employees, the Boeing presence is larger in California than in any state but Boeing's home state of Washington. However, it has declined from 10 years ago, when its 35,000 employees made it Southern California's largest private employer, the newspaper said.