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 told lawmakers that a tax-abatement bill introduced in Nevada would stimulate aviation business and make more services available to members.
Mavericks aerobatic team members are a highly seasoned group of pilots who prove age is no obstacle to flying with the utmost precision. Sen. Jim Inhofe, R-Oklahoma, talks about the Pilots Bill of Rights II, legislation that would expand medical reform to include IFR. Also this week, join us for an AOPA-hosted event that teaches kids about aviation and animal rescue.
The FAA has released an eight-minute video providing aviation medical examiners with guidance on the agency's new obstructive sleep apnea policy, which takes effect March 2.
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