In a letter to employees today, Hawker Beechcraft CEO Bill Boisture said that the effects of a worldwide recession continued to plague the company and is forcing him to lay off 350 workers companywide.
"Since I arrived here a year and a half ago, we have had several discussions about balancing the capacity/production and size of our company to match market demand. Last year we took rapid, decisive measures to downsize quickly in the face of this uncertain market. Although those difficult people decisions sustained us, the market for new production aircraft is not improving as we had hoped. In fact, the market is flat to slightly down and the conditions that would signal an upturn are not in sight for at least the next 12 months or longer," his letter read.
Boisture said the layoffs would be completed by November 1, 2010 and more details would be forthcoming.
He also said he did not see "a large-scale layoff" of hourly employees, but he did warn that "small reductions or short furloughs" may be required.
Hawker Beechcraft finishes out private jets at its operations at the Little Rock National Airport. The Wichita, Kansas-based company employs roughly 600 workers in Little Rock.
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