Embraer Announces Layoffs
March 2nd, 2009
Embraer has become the latest major manufacturer to announce a “revision to its cost structure and workforce, adjusting them to the new reality of demand for commercial and executive aircraft” in response to the global financial situation.
Embraer, which is headquartered in Brazil, depends primarily on export markets and on global economic performance; more than 90 percent of its revenue is generated abroad.
The company will be reducing its workforce (which previously stood at just over 21,000) by approximately 20 percent. Most of the staff to go will be in the production and administrative areas including, according to Embraer, “the elimination of one layer in the management structure.” Embraer says that the “significant majority of the engineering workforce” will be retained.
