Boeing to cut 500 jobs in defense and space unit

(Reuters) - Boeing Co, the world's biggest planemaker, said on Tuesday that it would cut 500 jobs over four years and shut two plants as it revamps its defense and space unit.

The company, which is shutting plants in El Paso, Texas and Newington, Virginia, said some jobs in Huntington Beach plant would move to El Segundo, Long Beach, and Seal Beach in Southern California.

Boeing also said many positions in Kent, Washington will move to nearby Tukwila.

The company said about 1,600 positions will move to Los Angeles County, California; 500 to St. Louis, Missouri and about 400 to Huntsville, Alabama as part of the consolidation. (http://bit.ly/2fuDKh2)

The charges related to job cuts and the consolidation were not material, a Boeing spokesman told Reuters.

The company also said it would create a new global operations group that would include its defense units in Australia, Saudi Arabia, and UK. The unit will he headed by David Pitchforth, managing director of the company's UK defense unit.

Boeing's defense, space and security business, which had about 48,000 employees as of Oct. 27, accounted for 31.4 percent of the company's total revenue of $23.9 billion in the latest quarter.

(Reporting by Ankit Ajmera and Arunima Banerjee in Bengaluru; Editing by Anil D'Silva)