Boeing Plans 1,000 Defense Division Cuts

SEATTLE -- The head of Boeing's(BA Quote) Integrated Defense Systems division has told employees the division will have to cut about 1,000 jobs because of Pentagon budget reductions.

In an internal memo, Boeing's Jim Albaugh said the job reductions are needed to keep the company competitive.

Boeing hasn't said what its timeline is for the cuts.

In January, CEO Jim McNerney said the company would cut 10,000 jobs companywide this year through attrition and layoffs. Boeing spokesman Dan Beck wouldn't say Tuesday whether the 1,000 cuts are part of the 10,000. ...