Boeing (BA) Defense Chief Sees 'Significantly' More Cost Cuts Coming

Boeing (NYSE: BA) is looking at making more large cuts in one of its key operating units.

Speaking at a Credit Suisse conference today, Boeing Defense CEO Dennis Muilenberg said that he sees significatly more cuts in his segment. Boeing has already made $4 billion in cost-cuts for the unit, with the majority coming from international streamlining. Muilenberg also sees potential supply chain cost savings from recent moves.

Boeing Defense's current $70 billion backlog counts 40 percent of its sales from the U.S. Department of Defense.

Muilenberg said the P-8 tanker is likely to fill the void left by the C-17 when its program is phased out by the end of 2015.

Shares of Boeing are down 0.7 percent Wednesday.

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