MESSAGE FROM THE AEROSPACE LEADERSHIP TEAM
Dear Colleague:
As outlined in the recent Aerospace Webcast, several Aerospace industry-wide sectors continue to experience a significant slowdown, and our customers and competitors are continuing to cut costs, reduce their inventory and orders, report slower sales, and conduct layoffs.
We are looking at every opportunity and doing everything we can to help avoid further cost actions and fuel more and faster growth, and will report back on our 2017 plans later this year. However, we need to implement a one-week furlough in the United States and Puerto Rico this month. Details of the furlough implementation are below. Furlough-related decisions or actions may also be implemented in other parts of the world, in accordance with local laws and practices, with details to follow when they are available.
As we have emphasized on many occasions, short-cycle growth should be everyone’s top priority and is the only way we can help improve this situation, whether through upgrades, repair & overhaul, software and services, or breakthrough growth. We must also continue to improve the quality and timeliness of our customer service, along with remaining diligent on scrutinizing non-essential costs and all third-party spending.
We have implemented these cost-saving measures while continuing to invest in the business to help improve our long-term competitive position. We are aware of, and highly sensitive to, the burden placed on all of our employees and appreciate your support in helping us drive sales and growth to outperform in this extremely challenging environment.
The Aerospace Leadership Team
Furlough Implementation
Aerospace will conduct an unpaid work shutdown, or furlough, in the United States and Puerto Rico as follows:
• All employees will be required to take one full work week of furlough as defined by payroll. The furlough will begin at 12 a.m. on September 19 and will run through 11:59 p.m. on September 25, 2016.
• HTSI, FM&T, Transportation Systems and all ISC direct and indirect touch employees are excluded from the furlough, along with select groups of employees in other SBU’s due to business requirements. These employees will be notified by their manager or Human Resources contact.
• A small crew of employees will be required to work during the furlough week. These employees will be required to take their furlough the week of September 26, 2016. Your supervisor will inform you if you fall in to this category.
• Additional furlough process and procedure details will be communicated next week.