Welcome to Extreme Investor Network, where we bring you the latest and most valuable information in the world of business news. Today, we have an exclusive update on aerospace supplier Spirit AeroSystems and its recent announcement regarding employee layoffs.
Spirit AeroSystems, a key supplier for Boeing, has made the difficult decision to lay off some of its workers due to slower delivery rates on commercial aircraft. The company cited a slowdown at Boeing, its biggest commercial airplane customer, as the primary reason for the layoffs.
In a memo to staff, Spirit AeroSystems revealed that approximately 400 to 450 hourly employees will be affected by the layoffs. Despite this challenging situation, the company emphasized its commitment to implementing the transition in a compassionate manner.
The Wichita-based facility, which currently employs around 12,600 people, primarily produces fuselages for Boeing’s popular 737 Max plane. However, deliveries have been impacted by recent safety issues at Boeing, leading to a decrease in overall delivery rates.
In addition to the layoffs, Spirit AeroSystems reported a quarterly loss of $616.7 million for the first three months of the year. The company has faced financial struggles in recent years and is in talks to be acquired by Boeing, its former parent company.
Boeing CEO Dave Calhoun expressed optimism about reaching a deal with Spirit AeroSystems during the second quarter of this year. Approximately 70% of Spirit AeroSystems’ revenue in the past year came from Boeing, highlighting the importance of this potential acquisition.
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