Having served in the airplane, rotorcraft, satellite and rocket sector of the industry, we have offered exemplary services since 1916. In the last quarter of 2014, we decided to lay off 561 employees from our Southern California workforce. The employees were supposed to be laid off starting from December of 2014 to the early months of the upcoming year. Our plan for employee layoffs included a job cut of 253 workers from the Long Beach facilities, 154 employees from El Segundo, and the same number from Huntington Beach. We have also, already made an announcement regarding the closing of our factory in Long Beach, where we build the C-17 cargo plane. Some of our workforce reductions were linked to the job cuts at the Long Beach factory, which is to stop production within the new year, while others were related to the transference of aerospace production out of the Californian state, to other areas. We had filed documents to cut 360 jobs in the December of 2014. We also filed other notices with the Employment Development Department of the state, which notified the authorities of our plan to lay off an additional 201 workers in January and February of 2015. We had already notified the employees of the probable job cuts, and were providing career transition assistance to our numerous workers. Our spokesman Stephen Davis, shared the company’s values and said that we are focused on carefully linking the employment levels to our overall business requirements.
He further specified that our layoffs were a result of the difficult economic and business times that are being experienced by a number of companies within the industry.
Our designed layoffs were a result of an effort on our part, to control and check the production costs of our 787 Dreamliner. In the October of 2014, we acknowledged 7% higher revenues in the third quarter of the year. It was ultimately driven by strong efforts and performance across our business. We have decided to limit the number of our 747-8 aircraft to 16, from an annual 18, which was our yearly norm. This is the third cutback of a similar type that we have announced within the past two years.