Embraer decided to dismiss 20% of its work force in January
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Embraer decided to dismiss 20% of its work force in January
Gazeta Mercantil
SÃO JOSÉ DOS CAMPOS (SP), 11 de dezembro de 2008 - The global crisis has arrived with full impact at the third largest aircraft manufacturer in the world. The management of Embraer decided to dismiss almost 20% of its work force in January, which will represent approximately 4,000 employees. The list of layoffs is being prepared by the company's departments, and it will encompass all the sectors, from administration to operation.
Sought out by 'Gazeta Mercantil,' Embraer management said it would not comment on the layoffs. The last big reduction of the company's workforce occurred at the end of 1990, with the dismissal of 4,000 workers amid financial difficulties experienced by the then-state-owned company. At the time, its work force was 12,000 employees. At the time of its privatization, in 1994, the effective payroll was 5,200 employees.
The company maintains absolute secrecy about the action that will be carried out in the first weeks of the coming year. The need for the layoffs became apparent last month after a series of market analyses. Embraer directors saw that only more drastic action could contain the accelerated reduction in company cash flow, caused by the cancelation or postponement of firm orders.
(Julio Ottoboni - Gazeta Mercantil)
SÃO JOSÉ DOS CAMPOS (SP), 11 de dezembro de 2008 - The global crisis has arrived with full impact at the third largest aircraft manufacturer in the world. The management of Embraer decided to dismiss almost 20% of its work force in January, which will represent approximately 4,000 employees. The list of layoffs is being prepared by the company's departments, and it will encompass all the sectors, from administration to operation.
Sought out by 'Gazeta Mercantil,' Embraer management said it would not comment on the layoffs. The last big reduction of the company's workforce occurred at the end of 1990, with the dismissal of 4,000 workers amid financial difficulties experienced by the then-state-owned company. At the time, its work force was 12,000 employees. At the time of its privatization, in 1994, the effective payroll was 5,200 employees.
The company maintains absolute secrecy about the action that will be carried out in the first weeks of the coming year. The need for the layoffs became apparent last month after a series of market analyses. Embraer directors saw that only more drastic action could contain the accelerated reduction in company cash flow, caused by the cancelation or postponement of firm orders.
(Julio Ottoboni - Gazeta Mercantil)
