Following up on a letter last week from CEO Bill Boisture, Hawker Beechcraft has clarified how it will adjust to the current down market. On the chopping block at least through next year are company matching payments for retirement programs, and employees will also be required to cover more of their health care premiums. There is also a chance of further layoffs and furloughs “to match our business demands and revenues.” Cutbacks are said to be across the board, with management affected as well as hourly workers.
Hawker Beechcraft Reveals More Cost-Cutting Measures
Key Takeaways:
- Hawker Beechcraft is implementing company-wide cost-cutting measures in response to the current down market.
- Key adjustments include suspending retirement program matching payments and increasing employee health care premium contributions.
- The company also warned of potential further layoffs and furloughs to match business demands and revenues.
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