Spirit AeroSystems limits overtime and hiring as Boeing 737 output drops [Globe and Mail, The (Toronto, Canada)]
Spirit Aerosystems Holdings, Inc. (SPR)
Last spirit aerosystems holdings, inc. earnings: 2/28 07:30 am
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Source: Globe and Mail, The
The slowdown is spilling over to Spirit, the struggling industry supplier Boeing spun off in 2005, which makes about 70% of the 737. Boeing is now in talks to acquire the company. “When I walk the shop floors things have slowed down,” said Cornell Beard, president of the Wichita, Kansas, union district which represents Spirit Aero workers. Beard said employees are expected to raise concerns about potential layoffs at an internal union gathering on Saturday, adding the company cut overtime last week. While Spirit has not announced layoffs, some employees are nervous and are catching up on work they were behind on due to slower assembly demands. “We're just hanging on,” he said. Spirit has a requirements contract with Boeing for the 737 MAX program and the U.S. planemaker can reduce the purchase volume at any time, according to a filing. Spirit AeroSystems is “aligning our production to support our customer's rate profile,” spokesperson Joe Buccino told Reuters by e-mail. Tha
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SPR
Earnings
- 2/6/24 - Miss
SPR
Sec Filings
- 4/23/24 - Form 8-K
- 4/10/24 - Form SC
- 4/1/24 - Form SC
- SPR's page on the SEC website