Boeing Co. (BA) will cut up to 300 jobs at its Port Melbourne plant in Australia by the end of the year, Australia's ABC News reported on its website, citing a statement from the company.

Boeing said it had reached full production rates and no longer needed the staff. Most of the cuts affect fixed-term contractors, Boeing said.

Full story at: www.abc.net.au/news/2014-04-03/boeing-to-cut-300-jobs-in-melbourne/5363418

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