Boeing to Shutter Wichita Plant Amid Declining Defense Spending

Faced with shrinking U.S. defense spending, aerospace giant Boeing (BA: 73.83, -0.39, -0.52%) plans to pull the plug on its Wichita, Kan., plant, impacting more than 2,000 employees. Confirming earlier reports, the Chicago-based blue-chip company said the closure will occur by the end of 2013, but it doesn't expect job cuts to take place until early in the third quarter of 2012. The Wichita facility, which has been building aircraft since 1929, is part of Boeing's defense, space and security apparatus, or BDS. Employing more than 2,160 workers, the plant had been the company's base for its global transport executive systems business as well as its B-52 and 767 International Tanker programs. Continue reading this article

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