Gulfstream Plans More Layoffs, Production Cutback
Gulfstream Aerospace has joined other major manufacturers of business jets that are planning another round of layoffs and production cutbacks this year in
Gulfstream Aerospace has joined other major manufacturers of business jets that are planning another round of layoffs and production cutbacks this year in the face of the slowing economy. “Possible military action in the Middle East and unrest in the Asia Pacific area have exacerbated the [economic] downturn,” Gulfstream said on the eve of the U.S. decision to go to war with Iraq last month.
Reductions in the work force over the next several months at Savannah, Ga.-based Gulfstream could dismiss as many as 1,000 employees in addition to an undisclosed number of independent contractors. “Business aircraft market conditions and product demand will determine the extent and timing,” Gulfstream said.
