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UK's Senior cuts workforce amid aerospace manufacturing issues
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UK's Senior cuts workforce amid aerospace manufacturing issues
Oct 10, 2024 8:30 PM

Oct 8 (Reuters) - British engineering firm Senior

on Tuesday said it has initiated measures to mitigate

the impact of challenges faced by the commercial aerospace

manufacturing industry, including aligning its workforce to

match demand.

Senior, which counts Boeing ( BA ) and Airbus among

its clients, said it is resorting to both furloughs and job cuts

in response to the ongoing strike at Boeing's ( BA ) commercial

aircraft operations and supply chain issues faced by Airbus.

"While the full impact on our businesses exposed to the

affected programmes is not yet certain, we have moved decisively

to contain costs and preserve cash," the company said, without

disclosing how many positions would be cut.

The aerospace industry has been facing significant

headwinds, with issues spanning from restricted production rates

of Boeing's ( BA ) 737 MAX, which is under FAA oversight, and Airbus'

supply chain challenges due to a shortage of parts.

These challenges have impacted Senior's operations that are

most exposed to these customers, both directly and through their

Tier 1 suppliers, the company said.

However, it said it still expects year-on-year growth in

aerospace performance for the full year and said these issues

were "temporary."

(Reporting by Chandini Monnappa in Bengaluru; Editing by Varun

H K)

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