8th November 2012
The day after President Obama was elected to a second term, Boeing announced a 30 percent cut in managerial positions in the company.
The first rock in the avalanche.
Boeing says the cuts are not part of the president’s $500 billion in defense cuts, set to take effect in January 2013. But this is hard to believe, particularly since other defense contractors, like Lockheed Martin, have been warning that the president’s military cuts were going to lead to job losses in defense.