Boeing Co. announced that it will consolidate its El Paso facilities and reduce the workforce there by the end of 2014. The company said that the consolidation and workforce reduction is part of its strategy to increase affordability for government customers and become more competitive in an increasingly global marketplace.

The company noted that 370 workers at the site manufacture electronics for a variety of its products. Anticipated U.S. defense budget cuts likely will mean less demand for these items. Therefore, the company will reduce occupied square footage 50% by moving from three buildings into one, and will reduce employment by up to 160 positions. The company said that affected employees will receive assistance with finding employment elsewhere in the company or outside, as well as financial counseling and retirement seminars.