Boeing confirmed on Sunday that it had closed a deal to sell Digital Receiver Technology, a small subsidiary that makes surveillance equipment for France’s Thales Defense & Security.
The announcement came after a report by The Wall Street Journal revealing that the company is preparing to divest other non-core businesses to reduce its debt.
Digital Receiver Technology makes wireless equipment used by U.S. intelligence services and the military. The value of the deal was not disclosed.
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According to the WSJ, Boeing’s new CEO, Kelly Ortberg, asked the heads of the company’s units to present values of subsidiaries and divisions that could be sold.
Boeing had losses of US$ 5 billion in the third quarter, US$ 2 billion alone from the Defense and Space division, whose chief executive was replaced.
Since September 13, about 33,000 of its 170,000 employees have been furloughed, including staff at the Renton and Everett factories where the 737, 767 and 777 commercial jets are manufactured.
They are entitled to a 40% salary increase among other benefits. On Saturday, Boeing and the union in the region agreed on a proposal for a 35% increase that will be voted on by employees on Wednesday.
Faced with mounting losses, Boeing revealed that it will lay off about 10% of its workforce while raising $35 billion to meet its financial commitments for the next three years.
Amid the crisis, which worsened in January after an emergency situation in flight with an Alaska Air 737 MAX 9, the planemaker had to postpone the entry into service of the widebody 777X and confirm the retirement of the 767F freighter in 2027.
