November 4, 2008
By Alton K. Marsh
Not long after CEO Jim Schuster warned of difficult times ahead, he has sent a letter to employees warning that 5 percent of the company’s 9,800 employees worldwide will be laid off, according to reports by the Associated Press and The Wichita Eagle.
The cuts affect both hourly and salaried workers, and will be made soon. The company has just settled a strike that resulted in fewer deliveries than expected and a third-quarter reduction in revenue of $87.7 million, compared to the same quarter of 2007.
The Wichita Eagle reported that Hawker Beechcraft is scaling back its forecasts and market expectations to reflect the “…uncertainty emerging worldwide.” The company will also build cash reserves, reduce inventory, defer capital spending, and eliminate employees found to be “underachievers.”
AOPA Pilot Senior Editor Alton Marsh has been a pilot since 1970 and has an airline transport pilot certificate and instrument and multiengine flight instructor certificates, aerobatic training, and a commercial seaplane certificate.
AOPA has urged College Park, Maryland, to make approval of a hotel construction project near the city airport conditional on reducing the building’s height.
The North Dakota Aeronautics Commission is seeking the participation of pilots and businesses that rely on general aviation in two separate online surveys.
The AOPA Foundation is taking part in #GivingTuesday this holiday season.
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