Boeing reorganizes aerospace and defense business, consolidates it in fewer divisions
Boeing Co. said Thursday it was reorganizing its aerospace and defense unit, going to four divisions from eight, to "accelerate operational discipline, program quality, safety and performance" and put the unit on a "path to stronger, profitable growth." Boeing Global Services will also combine its domestic and international services, the company said. Shares of Boeing fell alongside the broader market in late trading, down 0.4%. So far this year, Boeing stock has lost 15%, compared with losses of around 17% for the S&P 500 index.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.