Company Down To 32 Employees, But "No Intent" To Shut Down

Citing the continued weak economy, this week Liberty Aerospace laid off 14 more workers, adding to the 30 job cuts the Melbourne, FL-based planemaker announced earlier this year.

With the latest cuts, Liberty now employees 32; one year ago, the company's workforce was listed at 180, according to Florida Today. Despite the gloomy news, however, Liberty CEO Keith Markley said the company has "no intent to shut down.

"All general aviation sales are way down, as are just about all capital products worldwide, whether they're cars or boats," Markley said. He added all laid off employees received severance packages, and that the company aims to keep production of its XL2 aircraft throughout the slump, until conditions improve and Liberty can "put people back on board."

Liberty has also worked to diversify its offerings. As ANN reported, in February the company announced the formation of a new division, Liberty Composites, to market the company's experience in aviation carbon fiber structures to other industries, both inside and outside the aerospace field.

The company hopes work generated through the new business will help Liberty weather the economic crisis in a stronger position.

FMI: www.libertyaerospace.com