Orange County Business Journal

Boeing to Trim in Seal Beach, Sell 2 Buildings

Chris Casacchia Thursday, November 8, 2012

Chicago-based Boeing Co. will sell off two of several buildings it has in Seal Beach as part of a restructuring that aims to slash $1.6 billion in expenses by 2015, including reductions in its executive ranks.

Boeing spokesman Todd Blecher told the Business Journal that the two buildings will be vacated and sold.

Both of the buildings slated to be sold are part of the company’s St. Louis-based Defense, Space & Security unit, which employs about 61,000 companywide.

Boeing owns several other buildings in Seal Beach. It’s not certain whether the decision to sell two of the properties will lead to layoffs of its rank-and-file. The company said it will seek to consolidate the workers at other locations in Seal Beach or nearby.

Boeing employs some 7,000 people in Orange County, a number that has significantly decreased in the last few years as the company shifted from big war equipment to stealth warfare—satellites, unmanned planes and other vehicles equipped with communications gear.

Boeing is Orange County’s fourth-largest employer and nearly all of its work here is for the military.