CINCINNATI, Ohio - General Electric’s aviation unit revealed plans on Monday to slash its workforce by 25% — roughly 13,000 jobs — this year as the coronavirus pandemic threatens to drive down demand for new aircraft, Leslie Josephs reports for CNBC. Continue reading original article.
The Intelligent Aerospace take:
May 5, 2020 - "As this pandemic continues to advance, our understanding of its impact on our industry and our business has also evolved," GE Aviation CEO David Joyce said in a message to employees. "The deep contraction of commercial aviation is unprecedented, affecting every customer worldwide. Global traffic is expected to be down approximately 80% in the second quarter when compared to the start of the pandemic’s effect in China in early February. Our aircraft manufacturers have announced reduced production schedules that will extend into 2021 and beyond reacting to the projected prolonged recovery."
Jamie Whitney, Associate Editor