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 cost-cutting measures in response to a down market, affecting all employee levels.
- Key cutbacks include suspending company matching for retirement programs and increasing employee contributions to health care premiums.
- The company also indicated the possibility of further layoffs and furloughs to align with business demands and revenues.
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