Boeing blames hundreds of layoffs on Ex-Im Bank lapse

Boeing Co. announced Monday it started issuing notices for what could be hundreds of layoffs at its satellite business, a move it blamed partly on the stalled reauthorization of the U.S. Export-Import Bank, which supports many of its sales.

The Wall Street Journal reports aerospace giant plans to eliminate "several hundred" jobs through early 2016.

“While this is not solely being caused by the expiration of Ex-Im Bank, this is a factor for the customers who have decided to maybe hit the pause button or look somewhere else,” a spokesman told the journal.

Boeing last week confirmed it had lost a satellite deal from Asia Broadcast Satellite because the company couldn’t secure financing.

Read more from the Wall Street Journal.