25% Headcount reduction across all Parker Aerospace Divisions took place April 2020. Salaried and hourly employees all affected. This took place after March 2020 10% pay cut. This is the most significant reduction in force event in over 20 years.
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It was about cutting costs. No regard to seniority, etc as it is not union. Parker laid off higher paid senior employees over less senior. Also, Parker has been giving preference to women to advance in management. A less senior and less qualified woman ( only 60 days in the position) was kept on while I was 5 years with exceeding reviews and let go. Yes I am a guy. Parker is self insured and if you have any medical problems ($ expenses) - self or family, they seem to take care of those issues whenever there is a RIF.
Take care of yourself first. That is what an employer is going to do. If you see the signs you’re being less than evenly considered try to move on before something like this happens...
Parker FSD was hit hard as all above have said. It’s always the bottom line profit. They laid off long term employees with no regard for seniority and dedication.
Very sad that with Parker could not try to weather the storm for a little bit with Billions in cash.
Parker CEO Is self-centered and doesnt care about all the employees who helped the company exceed Wall street expectations this quarter. Salary increases have been put on hold and additional layoffs are coming. Find yourself another job ASAP!
I am still one of the fortunate (I’d say) employees still trying to fly this plane! Yes, Parker CFCD was hit and it was hit hard and still keeps getting hit. We had another deep cut just today! We all know that Boeing certainly didn’t help any with grounding of the 737 MAX...which ultimately spiraled into a manufacturing halt in Production. CV-19 certainly didn’t help! When you’re 1 of the lone wolves like me left standing, you must continue to press on. It’s extremely difficult to hear your coworkers getting laid off. My department alone has experienced a 60% decline in staff. I have faith in my company; however, and I do believe that this too shall pass! We’re certainly not the only Aerospace company dealing with this economic downturn that’s for sure!
Too many acquisitions. Same company took almost 900million in taxpayer funds in recession. Also check executive bonus money last three years, can't convenietly blame all on covid-19. This company is turning back on employees and concentrating on CPA's/lawyers, millennials beware investing as well...
Thank god I left last year...you definitely can see this coming.
Exotic Metals Forming company in Kent Washington was bought by Parker last year. Historically Exotic before it was bought did VERY FEW layoffs and only during 9/11 times. Thursday April 23rd they brutally laid off 20% of Exotics work force most of which were some of their most tenured well paid and experienced employees.
More Parker
Layoffs to come.
Yep it happened work for The CFCD division and was laid off. Heard rumor of 40% of the workforce.