August 3, 2010 |
Citing a shrinking Pentagon budget, Boeing Co. said Monday that it was relocating two key defense programs from Long Beach, where it employs 800 people, to Oklahoma City. Beginning next year, the Chicago company said it would move its C-130 military cargo avionics and its B-1 bomber modernization programs. The relocation is expected to begin in the first quarter of next year and be completed by the end of 2012. The move would deal another blow to the California economy, where unemployment stands at 12.3%.