Boeing briefed the machinists union Thursday on its plans to shut a small parts factory near Mukilteo and a machine shop in Kent, according to reports, but declined to announce the news publicly just yet.
The facilities each employ about 300 workers, who would be moved to new jobs at other plants in the area. A statement on the union Web site (http://www/iam751.org) says Boeing will also consolidate portions of its operations in Auburn. The changes will reportedly come over a two-year period and result in moving about 1,000 workers to other area plants.
The move is the latest part of Boeing's drive to sell off underutilized plants and unprofitable assets. Overall, the company has shed some 49,000 jobs from a 1998 peak of 238,000, and has said it wants to see its payroll shrink to 180,000 by the end of the year.
Shares in Boeing fell 56.25 cents to $45.87 on the New York Stock Exchange on Thursday, and sat unchanged in early Friday trading. The company has recovered from a 52-week low of $32 to hit a recent high of $50.25.
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