This news along with yesterdays story on Boeing firing 30% of their workforce, the true effects of the reelection of President Obama will begin to ripple across the nation.

(Reuters) – Boeing Co said on Wednesday it will restructure its defense, space and security business and cut 30 percent of management jobs from 2010 levels as part of a broad cost-cutting drive.

Boeing, the Pentagon’s second-largest supplier, said it also will close some facilities in California and consolidate several business units in an effort to trim $1.6 billion in costs by the end of 2015, on top of $2.2 billion in reductions achieved since 2010.