financetom
Business
financetom
/
Business
/
Boeing supplier Spirit AeroSystems to lay off about 400 employees, memo says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Boeing supplier Spirit AeroSystems to lay off about 400 employees, memo says
May 16, 2024 11:49 AM

May 16 (Reuters) - Spirit AeroSystems ( SPR ) is laying off

several hundred members of its workforce in Wichita, Kan.,

according to an internal memo, as the company deals with high

debt and slowed production at Boeing ( BA ), its key customer.

"The recent slowdown in the delivery rate on commercial

programs compels a reduction to our workforce in Wichita,"

spokesman Joe Buccino said. "In the coming weeks, we will inform

affected employees. We are committed to implementing this

transition in as compassionate a manner as possible."

The memo, first reported by Wichita-based KSN, said about

400 employees would be affected. Buccino did not confirm that

figure to Reuters. Spirit had already started to limit overtime

and hiring as production declines due to lower output of 737 MAX

jets following a January mid-air blowout on a Boeing ( BA ) plane.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Canopy Growth CEO Says German Cannabis Market Has 'Ability To Grow 10x' Following Legalization
Canopy Growth CEO Says German Cannabis Market Has 'Ability To Grow 10x' Following Legalization
Mar 26, 2024
The German government partially legalized cannabis last week, and Canopy Growth Corporation ( CGC ) shares lit up. Canopy Growth ( CGC ) CEO David Klein joined BNN Bloomberg on Friday to discuss what the legislation means for the company. Growth Opportunities: Klein sees Germany's cannabis market growing from its current value of just under $500 million to over $2.5...
Crude output at Mexico's Pemex slumps to more than four-decade low
Crude output at Mexico's Pemex slumps to more than four-decade low
Mar 26, 2024
MEXICO CITY, March 26 (Reuters) - Mexican state energy company Pemex said its crude oil production in February hit its lowest monthly level in 45 years, as output of the key commodity remained far from the goals laid out by outgoing President Andres Manuel Lopez Obrador. The company's latest numbers, published late on Monday, showed Pemex pumped an average of...
Walmart can end Capital One credit card partnership early, US judge rules
Walmart can end Capital One credit card partnership early, US judge rules
Mar 26, 2024
NEW YORK (Reuters) - A federal judge ruled on Tuesday that Walmart ( WMT ) can end its credit card partnership with Capital One early because the bank failed to provide the required level of customer service. U.S. District Judge Katherine Polk Failla in Manhattan said the terms of a 2018 agreement making Capital One the exclusive issuer of Walmart...
Market Chatter: Tencent, Apple to Collaborate for Chinese Market Access on Vision Pro Headset
Market Chatter: Tencent, Apple to Collaborate for Chinese Market Access on Vision Pro Headset
Mar 26, 2024
03:25 PM EDT, 03/26/2024 (MT Newswires) -- Apple's ( AAPL ) Vision Pro headset will get access to keys applications from Tencent ( TCTZF ) in China, The Information reported Tuesday, citing a person with knowledge of the agreement between the companies. The accord with Tencent ( TCTZF ), China's largest social media, streaming and gaming company, is significant because...
Copyright 2023-2026 - www.financetom.com All Rights Reserved