More Layoffs At Hawker; Bids Considered
Hawker Beechcraft laid off another 125 workers in Wichita last week, and six bids are under consideration from potential buyers of the company's assets, the Wichita Eagle reported on Monday. The company said no final decision has been made regarding a sale, but the bids were solicited as the company continues to restructure under bankruptcy protection. "The Debtors are continuing to evaluate potential sale alternatives and may elect to incorporate one or more sale or plan sponsorship transactions into the plan," according to the bankruptcy filing, the Eagle reported.
The new job cuts are the latest in a series, totaling 906 jobs lost so far this year, according to the Eagle. Hawker filed for Chapter 11 in May, citing a loss of over $600 million last year and a heavy debt load. CEO Robert Miller said he expects Hawker to reorganize and emerge as a more competitive company. AVweb Editorial Director Paul Bertorelli offered his analysis of the company's situation and options in a recent AVweb Insider blog; click here to join the conversation.