More Layoffs At Hawker Beechcraft

Hawker Beechcraft has issued layoff notices to 350 employees, the Wichita Eagle reported on Tuesday. The company, which has been struggling with more than $2 billion in debt, said in a letter to employees (PDF) that “market conditions are requiring us to adjust our overall production cadence to help ensure the company will compete effectively in the future.” The notices provide a 60-day warning to workers before they are out of a job. “We are in the process of synchronizing our production line by making changes to previously planned schedules and resizing our work force,” according to the letter.

Hawker Beechcraft has issued layoff notices to 350 employees, the Wichita Eagle reported on Tuesday. The company, which has been struggling with more than $2 billion in debt, said in a letter to employees (PDF) that "market conditions are requiring us to adjust our overall production cadence to help ensure the company will compete effectively in the future." The notices provide a 60-day warning to workers before they are out of a job. "We are in the process of synchronizing our production line by making changes to previously planned schedules and resizing our work force," according to the letter.

Last week, the company reported a net loss of nearly $633 million for 2011. In Monday's letter, Hawker Chairman Bill Boisture and CEO Steve Miller told employees, "We continue to manage our way through a challenging and rapidly changing environment while implementing transformations across our company." In a filing earlier this month with the federal Securities and Exchange Commission, the company said it may not be able to stay in business in its current form.