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)