Textron's philosophy is layoff to meet quarterly numbers and then hire new college grads for less money. I like the idea but they are doing it at such a rapid pace they will be laying off the new hires from this year in just 8 years. Not to mention they are more focused on building a plane that no one wants like the Scorpion. Since acquiring Beech their sales people don't focus on selling Beech planes and they are slowly dwindling the Beech model. If this company would put more focus on efficiency and doing whats right as a business process they would be MUCH more profitable. We are constantly writing off inventory, scrapping parts, reworking parts and surplussing parts. We focus heavy on outsourcing as much as possible that we are loosing the ability to have a niche in areas we've been known to have. One last note about this company... they are one of the only companies in the US that believes the employees should be paying 100% for all benefits. Every year my bring home goes down despite my raises.
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It's going on again. Local management ordered overtime and a request for contract help to meet schedule on the new plane scheduled to come out by the end of the year. Corporate sends their finance auditors and tells local management to cut out the overtime and layoff the contractors. And this happen in a matter of two weeks time. Cutting off the knees of your own local management is not good management. So the people at the top are only thinking about their own profits, not the profits of the company and the future of the company. They thing only of themselves and what they can get by artificially juicing up the stock price. And the CEO will be retiring in August 2018, (when he gets $500,000 a year in Pension out of the pension fund guaranteed for the rest of his life) so he's got to do the gutting of the company soon so he can sell off his stock options at the highest price possible. Go figure.
100% with this--the CEO Scot Ernest did the same to the employees at General Electric too. They are still trying to find the experience he sent out the door and struggling to find people.
Now at Textron Aviation he is sending production jobs to Mexico and China and sending engineering jobs to India--he's hurt the brand name of Beechcraft and Cessna combined.
You nailed it with Beech, the are neglecting it