Piaggio plans layoffs but will increase production

 - October 12, 2007, 9:50 AM

Piaggio Aero Industries is considering laying off 150 to 170 workers over the next few months. This reduction follows a three-year period of transition of ownership from the Italian government, where a “pre-purchase level of employees was to be retained,” said company officials. The personnel changes result from “efficiencies created by the new management team.” These layoffs are not for reduced production in response to market conditions, Piaggio emphasized. “In fact, production is continuing to increase, with 14 to 18 Avanti twin turboprops planned to be built this year and
at least 22 next year.”