Boeing cutting 30% of executives at defense unit

NEW YORK (MarketWatch)
Boeing Co. said Wednesday it plans to employ 30% fewer executives at its Boeing Defense, Space & Security unit by the end of 2012 compared to 2010 levels
The company did not disclose a specific number of positions to be reduced, but it said the entire St. Louis-based defense unit employs 61,000 people worldwide, including managers and workers
A Boeing spokesman said the company does not release executive head count figures
 "We are at one of the most challenging yet opportunity-rich times in our history," Boeing said
The company said funding for the U.S. Department of Defense "is under extreme pressure."