Defense market woes lead to more Boeing layoffs
Argon ST unit makes cuts; cites market conditions and pressure from increased competition.
Boeing’s Argon ST unit has laid off 34 employees because of the deteriorating defense market, the Washington Business Journal reported.
Boeing acquired Argon in August 2010, but a spokesman said the layoff was not related to the acquisition, but “to the increasingly competitive business environment, along with the reality that the defense market is facing flat or decreasing budgets for the foreseeable future.”
The layoffs were effective immediately and included managers and lower-level employees.