Why all the layoffs? GD is gutting Gulfstream to sell. Gulfstream isn't do well and with world economy down it going to be difficult to sell aircrafts. Companies around the world lost a lot of money during the Covid 19. GD is look out for its profit and Gulfstream is tanking. Management will stay in place for this transition. This is why.
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Just get ready for the announcement of Qatar Executives cancellation of their contract with GAC for projected AC orders previously forecasted by Gulfstream. 5 of those 11 AC not able to be delivered this quarter will not be going to Qatar Executive as originally planned. These are unfortunate times for everyone in the world and the perfect scenario for Corporations to make cut throat decisions “based on” a lot of “factors”. GD has been building its amount of “Defense” industry type companies in its subsidiary holdings for years. Good business practice or preparing to handle the fall out of their plan to sell Gulfstream? There has been talk of “rumor” since I started at GAC SAV in 2008 until I left GAC SAV this year. When it’s all said and done, my thoughts and prayers go out to everyone and their families affected by this across all the GAC sights.
That was a temporary thing and as soon as this economy gets back up and trucking orders will go through the roof because the millionaires that were on the fence will now buy. They will feel much safer on their own plane then commercial planes
GD does not need GAC to survive. Like a trophy wife GAC is
Not the same sad story again. GD needs Gulfstream. Without Gulfstream, GD would die. Do you all ever pay attention to how much Gulfstream contributes to GD's bottom line at every all-hands meeting? Y'all said this 6 months ago, 6 years ago, 12 years ago...
A lot of speculation.
They’re just sending a message to the market that they’re willing to sacrifice people and their families for short term gains. The workload is still there! The long term outlook is not that bad, at least not yet.
Sell to who, exactly. Nobody wants a house built in a swamp. ESPECIALLY a house that’s going to run you $$$ billions.
"they couldn’t physically deliver around 11 aircraft due the nationwide shutdown. I’d like to hear more about why they couldn’t"
Not all aircraft deliver to the USA. You cant deliver an aircraft to a country that wont let you in.
They lost 500 million this quarter simply because they couldn’t physically deliver around 11 aircraft due the nationwide shutdown. I’d like to hear more about why they couldn’t. The airlines where still flying some routes. Sounds like the owners didn’t want to take delivery for obvious reasons. They’ll eventually be delivered. Not the end of the world considering the circumstances, but a great way for executives to secure bonuses and lift the stock price by laying off thousands. Corp sales will definitely suffer in the short term, but it will bounce back (and we’ll have hire like crazy). Hell, who wants to fly commercial for the next year? I seriously doubt they’d sell this cash cow anytime soon. However, stranger things have happened.
Yawn