Boeing to sell or lease 7 buildings at 747 jetliner plant near Seattle

October 09, 2002|By BLOOMBERG NEWS

SEATTLE - Boeing Co., which has halved jetliner production in the past year, will sell or lease seven underused buildings at its 747 plant north of Seattle, the company said yesterday.

The moves will affect 1,867 workers.

The majority of workers will transfer to other buildings at the plant in Everett, Wash., company spokeswoman Sandy Angers said.

Boeing might eliminate a "very small" number of jobs as it completes the move over the next two years, she said.

Boeing, the world's biggest maker of aircraft, has cut almost 30,000 jobs in the past year to cope with a slump in air travel exacerbated by the terrorist attacks last year and the weak economy.

The Chicago-based company has also been shedding excess factory space to save money.

The measures will shrink the Everett site's 13.7 million square feet by about 1.3 million square feet, Angers said.

The only jobs imperiled are in a group of 200 workers who manufacture tubes and ducts, she said. Boeing is transferring that work to a plant in Auburn, Wash., and there might be some duplication, she said.

Shares of Boeing fell 37 cents to $32.01 yesterday in trading on the New York Stock Exchange. They have fallen 17 percent this year.

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