LayoffBlog.com

March 6, 2009

General Dynamics cuts 1,200 jobs

General Dynamics Corp. plans to cut 1,200 jobs and reduce production at its Gulfstream Aerospace unit because of reduced demand for private jets. The Falls Church contractor lowered its earnings forecast for 2009 to reflect the lower output.

General Dynamics (NYSE: GD) announced Thursday that its Gulfstream Aerospace subsidiary has cut large-cabin aircraft production and green-aircraft deliveries from a projected rate of 94 to 73 for 2009 and will reduce production of its mid-size aircraft from a projected rate of 30 to 24 aircraft this year. The reduced production will result in a reduction-in-force of 1,200 workers. General Dynamics said approximately 550 of those positions are held by contractors.

Source: Washington Business Journal

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Blog at WordPress.com.

%d bloggers like this: