Hawker Beechcraft executives have eliminated hundreds of jobs, released three vice presidents, adjusted employee benefits, and reduced the salary of CEO Bill Boisture, Jr., from $630,000 to $567,000 effective Sept. 7.
The moves, including some cutbacks in employee benefits, are part of an additional effort to cut costs in the face of a continued deep recession. The company did not release details of the latest layoffs.
Wichita Eagle reporter Dan Voorhis discovered that documents filed by the company with the state of Kansas show 300 new layoffs.
The company is suspending company contributions to employee 401K plans and has raised employee contributions to health care premiums for nonunion employees.
Alton K. Marsh
Freelance journalist
Alton K. Marsh is a former senior editor of AOPA Pilot and is now a freelance journalist specializing in aviation topics.
