WICHITA, Kan., Aug. 29, 2013 /PRNewswire/ -- Spirit AeroSystems, Inc. (NYSE: SPR) today announced additional workforce reductions in Wichita, Kan., to begin next month. The actions are the result of an ongoing workforce assessment designed to balance the workforce, reduce overhead costs, increase efficiency and drive improved performance. Reductions will be accomplished through a voluntary retirement program, a voluntary layoff program, and following the voluntary exercise, a layoff of management and salaried employees.
(Logo: http://photos.prnewswire.com/prnh/20130515/CG13652LOGO) Today's announcement represents continued strategic moves by the company to become more competitive in a cost-sensitive environment. Final numbers of employees impacted have not yet been determined. Details will be shared directly with eligible and included employees in the coming weeks. The company will offer a lump sum severance payment and career transition services to employees who are laid off, and a lump sum severance payment and healthcare bridging option to employees who are eligible for the voluntary retirement program.
Spirit remains a strong company with a robust backlog of approximately $38 billion.
On the web:
www.spiritaero.com On Twitter: @SpiritAero
About Spirit AeroSystems, Inc. Spirit AeroSystems, with headquarters in Wichita, Kan., USA, is one of the world's largest non-OEM designers and manufacturers of aerostructures for commercial aircraft. In addition to its Wichita and Chanute facilities in Kansas, Spirit has locations in Tulsa and McAlester, Okla.; Kinston, N.C.; Nashville, Tenn.; Prestwick, Scotland; Preston, England; Subang, Malaysia; and Saint-Nazaire, France. In the U.S., Spirit's products include fuselages, pylons, nacelles and wing components. Additionally, Spirit provides aftermarket customer support services, including spare parts, maintenance/repair/overhaul, and fleet support services in North America, Europe and Asia. Spirit Europe produces wing components for a host of customers, including Airbus.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts