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January 8, 2009
Jim Schuster, chairman and CEO of Hawker Beechcraft Corp. sent all employees a letter Thursday notifying them of pending job reductions.
In the letter, Schuster cites the current economic conditions and an “unpredictable business climate” as reasons why the company will be forced to lower its production level for 2009.
“As a result, we are forced to substantially decrease our 2009 production levels and take the painful step of reducing our workforce accordingly,” Schuster writes. “We are in the process of finalizing our plans and will notify affected employees as soon as possible.”
Schuster goes on to promise “no additional actions” after the layoffs, but he admits a global economic recovery could be slow.
“While this is a disappointing way to start 2009, I believe that making difficult decisions now and sticking to the priorities that have made our company successful will enable HBC to survive this downturn and thrive in the long term,” Schuster writes.
Here is the letter in its entirity:
January 8, 2009
To Fellow Hawker Beechcraft Employee:
In my letters to you in October, I promised to keep you informed about the state of our business as we face one of the most challenging economic environments in the history of our company and our industry. No one could have predicted the rapid downturn in the global economy, nor its almost unimaginable magnitude.
As we are all acutely aware, economic conditions have continued to deteriorate since my last letter. The general aviation market has slowed; new orders have fallen off considerably; many existing orders have been terminated and used inventory has increased dramatically. Simply put, consumer demand for aircraft and services has declined precipitously.
As we enter 2009, we see the economy continuing to erode and find ourselves facing a highly uncertain and unpredictable business climate. The bottom line is that the concerns I noted in October have become a reality and must be addressed immediately. As a result, we are forced to substantially decrease our 2009 production levels and take the painful step of reducing our workforce accordingly. We are in the process of finalizing our plans and will notify affected employees as soon as possible.
I would like to promise you that we’ll see no additional actions; however, at this point we see no reason to expect a quick worldwide economic recovery. Instead, we believe the best case scenario is that current instability will continue and in the worst case, conditions may erode further.
I want to absolutely reassure everyone that HBC is an extremely healthy company with a solid future. While this is a disappointing way to start 2009, I believe that making difficult decisions now and sticking to the priorities that have made our company successful will enable HBC to survive this downturn and thrive in the long term.
Once again, you have my personal commitment that I will promptly inform you of key business decisions that impact you and your families.
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