Wed, Apr 16, 2003
At Least 800 to Leave by Summer
Calhoun, president and chief executive officer of GE Aircraft
Engines, told employees that the company, worldwide, will be
sending home some 800 salaried workers, from the aviation engine
The decline in demand for air travel has had airlines cutting
flights, curtailing airliner orders, and ordering fewer
replacements for the existing fleet. Six months ago, GE told its
workers that as many as 1800 might have to go home, eventually.
Associated Press reports that this sector of GE's employment has
fallen by about one in every six workers, since the terror
Just when the picture couldn't have looked bleaker for the
airline industry, Red China lost its ability to keep a lid on SARS.
Calhoun mentioned that, in his webcast last week: "Our North
American customers are struggling with bankruptcy and
restructuring. European airlines are making 15 percent capacity
reductions. An additional complication is that our Asian customers
are being dramatically affected by SARS."
The company is enhancing retirement and severance packages, to
encourage its 'most-valed assets' to leave voluntarily.
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