Name: Gulfstream lays off nearly 700 employees
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Gulfstream lays off nearly 700 employees

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Katie Nussbaumknussbaum@savannahnow.comView CommentsNearly 700 employees at Savannah-based Gulfstream Aerospace Corp. have been laid off, according to information filed with the Georgia Department of Labor. As required by the Federal Worker Adjustment and Retraining Notification Act (WARN), Gulfstream notified the GDOL on Friday, May 1 of 699 layoffs.In an emailed statement on Monday, May 4, Heidi Fedak, director of corporate communications and media relations for Gulfstream, said the coronavirus crisis had impacted the company’s business operations and because of the ongoing challenges, the company has decreased projected deliveries for 2020.“Unfortunately, those measures alone were not sufficient to overcome this significant impact, requiring us to take additional steps to balance the size and structure of the business with current conditions. As a result, we recently made the difficult decision to reduce our workforce at multiple locations across our company,” she said.“These are challenging and unprecedented times that require us to make difficult decisions to ensure the long-term health of the business. We sincerely regret the impact these actions will have on our colleagues and their families. Depending on individual eligibility criteria, those colleagues affected may receive benefits that include severance and benefits extensions.”Gulfstream’s parent company, General Dynamics, that the COVID-19 pandemic and travel restrictions had resulted in the delayed delivery of 11 Gulfstream jets and a decline of $549 million in revenue during the first quarter.General Dyamics Chairman and CEO Phebe Novakovic reported that the aerospace sector had revenue of $1.7 billion and operating earnings of $240 million with a 14.2% operating margin during the quarter. The aerospace backlog was up $1.1 billion, or 9.1%, over the year-ago quarter.In October 2019 the company from its domestic workforce, which includes operations in Savannah, Brunswick, Appleton, Wisc.’ Long Beach and Lincoln, Calif.; Palm Beach, Fla.; Las Vegas; Dallas; Cahokia, Ill., and Westfield, Mass.The company employs nearly 18,000 people around the world and about 10,000 between Savannah and Brunswick.All of savannahnow’s coverage of coronavirus is being provided for free to our readers. Please consider supporting local journalism by subscribing to the Savannah Morning News/savannahnow.com at savannahnow.com/subscribenow.View Comments

Katie Nussbaumknussbaum@savannahnow.comView CommentsNearly 700 employees at Savannah-based Gulfstream Aerospace Corp. have been laid off, according to information filed with the Georgia Department of Labor. As required by the Federal Worker Adjustment and Retraining Notification Act (WARN), Gulfstream notified the GDOL on Friday, May 1 of 699 layoffs.In an emailed statement on Monday, May 4, Heidi Fedak, director of corporate communications and media relations for Gulfstream, said the coronavirus crisis had impacted the company’s business operations and because of the ongoing challenges,...

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Katie Nussbaum

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Gulfstream lays off nearly 700 employees

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